Exchange market news. According to experts, global sugar production in 2011-12 MY will reach the record of 172 200 000 metric tons. Yesterday the International Sugar Organization claimed global surplus is going to amount to about 4.5 mln. tons, in spite of the considerable loss of production in Brazil, the largest producer and exporter worldwide.
Production has exceeded consumption by 7 mln. tons, which will provide a 4.2% production growth, in comparison to the previous season (165 200 000 tons). Global consumption is expected to increase to 167 700 000 tons, with annual growth up to 2.16% during the next decade.
It is worth mentioning that ISO is still expecting global sugar surplus in 2011-12, in spite of the loss of production in Brazil by 3.3 mln. tons, in comparison to the previous year.
The loss due to smaller export from Brazil will be compensated by supplier from a range of key market players, such as Australia, European Union, India, and Thailand.
