Global sugar supply deficit in the 2020/21 season (October-September) likely narrowed as larger than expected and now it is expected to reach 3.2 million tons, StoneX said. The projected deficit is the result of a smaller crop in Brazil, United Kingdom, Thailand and Russia, despite an increase in the Indian crop. Brazil’s center-south 2020/21 (Oct-Sept) is estimated by StoneX at 36 million tons, over 37 million tons in 2019/20. Total sugar production in the 2020/21 harvest is estimated at 183.7 million tons, up 0.3% over the previous season. The total demand for the sweetener is expected to reach 186.9 million tons, an increase of about 0.7% compared to the previous season, despite coronavirus pandemic. “Despite the ongoing coronavirus pandemic, the demand for sugar has proved to be resilient and will remain sustained,” said StoneX.
Source: Notícias Agrícolas (*Translated by Ia Niani)