ISO forecasts global sugar deficit of nearly 5 mn tonnes in 2019-20

The ISO noted that consumption growth was expected to be below the 1.8 per cent average seen up to 2016-17

The International Sugar Organization (ISO) on Monday forecast a global sugar deficit of 4.76 million tonnes in the 2019-20 season, driven partly by lower production in India and Thailand. 

The inter-governmental body, in its first full outlook for the 2019-20 (FY20) season, which begins on October 1, saw global production falling by 2.35 per cent to 171.98 million tonnes (mt), while consumption will rise by 1.34 per cent to 176.74 mt. 

“The fundamentals provide some grounds for cautious optimism concerning future dynamics in world prices,” the ISO said. Production in India is seen falling to 28.3 mt in FY20, from the previous