Brazil to become worlds largest sugar producer
BRAZIL will pull ahead of the European Union (EU) as the worlds largest sugar producer this season, forecasts broker C Czarnikow.
The international sugar broker predicts Brazils raw sugar output for 1998-99 at 17.9 million tonnes, while the EUs is expected to be 17.4m tonnes.
This years production will reverse last years order of play. Brazil turned in 16m tonnes last season while Europe returned 19m tonnes.
C Czarnikow says Brazil has benefited from reorganisation of its production. Europe, where beet is grown rather than cane, has suffered from bad weather.
Sugar supply is expected to continue to outstrip consumption this year.
The broker forecasts global production at 128.5m tonnes this season against consumption of 124.3m tonnes.
- Financial Times 19/11/98 page 42