Washington: Czarnikov, international sugar trader cut its global sugar consumption estimate by 2 million tonnes stating that the coronavirus pandemic will reduce sugar consumption in countries that have imposed lockdowns.
The trader has written a note to the clients stating 5 per cent reduction in sugar consumption in the countries like China, Germany, France, Italy, South Korea among others where isolation measures have been taken to contain the spread of the virus.
Earlier the company had predicted one per cent rise in the consumption. Now the world consumption is likely to remain at 172.4 million tonnes.
According to the World Health Organization, at least 7,529 people globally have died from COVID-19, as the illness is officially known, while more than 180,000 infections have been confirmed in at least 150 countries and territories,
To Listen to this News click on the play button.