London: The Tropical Research Services (TRS) has released a report stating that the projected sugar surplus for 2021/22 will be shrinking while a deficit in the current 2020/21 season has widened.
The TRS had projected a surplus of 2.48 million tonnes, raw value, in 2021/22 (October/September) as against a surplus of 5.18 million tonnes in February following a reduction in production.
The global production in 2021/22 is expected to down to 188.94 million tonnes from a previous projection of 191.51 million tonnes. However, the consumption remained almost the same from 184.38 million against 184.50 million predictions in February.
According to the TRS, “The new wave of COVID-19 infections in Asia, and particularly in India, does pose a downside risk to our current estimate of sugar consumption for this region.”