The International Sugar Organization (ISO) has forecast the greatest sugar deficit of the past 11 years for the 2019/2020 season. It expects the deficit to reach 9.44 million tonnes (rather than the 6.12 million tonne deficit initially forecast) because of expected slumps in production in India and Thailand, which will not be offset by good harvests in Brazil and Russia. In this way, global sugar production is set to fall by 4.8% on last season to 166.7 million tonnes, while consumption should reach 176.1 million tonnes in 2019/2020 (up by 1.3%).
Source: Agence Ecofin
