The International Sugar Organization (ISO) has increased its estimate for the 2019/20 global sugar deficit to 6.12 million metric tonnes, from 4.76 million tonnes forecast in September, according to Reuters.
Global sugar production is expected to total 170.4 million tonnes, down 3.12 per cent in relation to the prior season.
Consumption should reach 176.52 million, up 1.32 per cent.
ISO has also released a preliminary estimate for a sugar deficit of 3.5 million tonnes in 2020/21.
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