New York: The sugar supply in the world market is expected to increase in 2021/22 season (October-September) over higher sugar production in Asia and Europe, said broker StoneX.
According to the news report by Reuters, the report released by the broker states that the global sugar output will improve despite the poor output from Brazil.
The report states that the demand will continue to surpass the production for a consecutive third year despite the improvement in the season and the deficit is likely to be at 800,000 tonnes in 2021-22 season compared to a deficit of 2.9 million tonnes in 2020-21 season.
Sugar output in India is expected to increase by 2% than the previous year to 31.5 million tonnes and the sugar output in Thailand is projected to increase by 39% to 10.5 million tonnes. The favourable weather condition in Asia will help in increasing the sugar output in the region.
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