London: The International Sugar Organisation (ISO) has changed the earlier prediction of the global sugar deficit for the 2020-21 season (Oct/Sept) owing to the reduction in sugar consumption across the world.
The ISO, in a quarterly update, has lowered the forecast of a global deficit from 4.8 million tonnes to 3.1 million tonnes in the ongoing season 2020-21. The earlier forecast was released in February this year.
The ISO expects that the global sugar consumption will be down from 173.8 million tonnes to 172.4 million tonnes. The increase in the covid-19 cases in India and Brazil and various restrictions have led to the decline in sugar consumption.