Global sugar consumption to outstrip supply
THE US Department of Agriculture (USDA) forecasts that global sugar consumption could exceed production this season.
Sugar output is expected to reach 126.5 million tonnes in 1998/99, while consumption is predicted at 127.5m tonnes.
One analyst saw the forecast as precipitating a price rise.
USDA said the European Union would turn out 18m tonnes this year, while Indias is expected to hit 16.8m tonnes. Brazil is expected to produce 16.6m tonnes.
Canada is expected to raise production by 37% to 130,000 tonnes.
- Financial Times 27/11/98 page 34