May 8, 2024 | 12:23 GMT +7
Hotline: 0913.378.918
May 8, 2024 | 12:23 GMT +7
Hotline: 0913.378.918
The world is likely to run short of 3.5 million tons of sugar in the 2020-2021 crop. Photo: TL.
The world is projected to run short of 3.5 million tons of sugar in the 2020-2021 crop, according to the International Sugar Organization (ISO), although in the previous report, they expected the figure would be just 724,000 tons.
ISO also raised its forecast for sugar consumption in 2020-2021 from 174.2 million to 174.6 million tons, 2.9% higher than the previous crop. The outlook given is based on the impact of coronavirus lockdown in some countries, especially those in Europe.
ISO also anticipated a surplus of 1.9 million tons in the world sugar market in the 2019-2020 period, as opposed to the previous forecast for a deficit of 136,000 tons. This is because Brazil's sugar output in the 2019-2020 crop reached 39.8 million tons, higher than the previous forecast of 37.4 million tons.
Author: Son Trang. Translated by Meagan Phan. Edited by Duc Huy.
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