It is reported by Bloomberg.

Production in the Asian country this season may rise 5,2 percent — to a record 35,9 million tonnes on increasing acreage and improving yields, the U.S. Department of Agriculture’s Foreign Agricultural Service said Tuesday in a report. Brazil’s output may tumble 21 percent — to 30,6 million tonnes because of adverse weather and a shift to produce more cane-based ethanol.

Global production is forecast to fall 4,5 percent — to 185,9 million tonnes, trailing the May estimate of 188,3 million, after the outlooks for Brazil, Thailand and the European Union were revised lower.

Global inventory is forecast to rise as “massive stock building” in India counters lower supplies in China and the EU.