The International Sugar Organization (ISO) published its November forecast for 2020/2021 MY world sugar balance, in which the estimate of the global sugar deficit increased to 3,5 million tonnes (in August report the estimate was 0,7 million tonnes).
It is reported by ISO in its November report.
The projected increase in sugar deficit is due to the lower production estimates in the EU and EAEU countries, as well as Brazil. The current level of world sugar production amounts to 171,1 million tonnes, which is 3,4 million tonnes lower than previously estimated.
Estimated world sugar consumption increased to 174,6 million tonnes against the background of the resumption of sugar consumption in some countries after COVID-19.