06 September 2022, New Delhi: Food and Agriculture Organisation’s (FAO) forecast for world sugar production during October 2021-September 2022 is pegged at 174.6 million tonnes, up 5.1 million tonnes (3%) from the reduced level of 2020-21. The anticipated rebound, after three years of decline, reflects expectations of output increases in India, Thailand and the EU, and will likely more than offset significant declines in Brazil and China.
Global sugar consumption is set to recover for a second successive season in 2021-22, but its growth is anticipated to be slower than previous expectations. India, the world’s largest sugar consumer, and African countries are likely to drive the foreseen global rise in sugar consumption….
World sugar trade in 2021-22 is forecast at 59 million tonnes, slightly down from the estimated volume for 2020-21. Despite expectations of record exports from India and a recovery in shipments from Thailand, lower exports from Brazil are anticipated to curb world sugar trade.
Global sugar prices have fallen since October 2021, though remaining at elevated levels. Price declines were mainly triggered by favourable output prospects in major exporting countries, notably India and Thailand. Concerns over the impact of the Covid-19 pandemic on the global demand for sugar, following the resumption of containment measures in many countries, also weighed on prices in late 2021.
(For Latest Agriculture News & Updates, follow Krishak Jagat on Google News)