The Copersucar has predicted a global sugar deficit of 3 million metric tonnes in the 2020/21 year that ends in September. The deficit would continue further for the next season 2021/22.
Tomas Manzano, financial director, Copersucar said, the pandemic has impacted the global sugar consumption and it is likely to recover from this season. However, sugar production is not likely to increase. Sugar production in India is likely to be around 30 million tonnes and sugar output in Thailand would be between 7.5 million and 8 million tonnes this season.
According to the media report, Manzano said it is still early to release an estimate for a global sugar balance in 2021/22, but said it is possible to estimate a deficit if demand continues to recover since there is no expectation for a relevant rise in production.
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