ISO cuts forecast for 2024/25 global sugar deficit

Source:  UkrSugar
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The International Sugar Organization (ISO) on Wednesday (Nov 20) cut its forecast for an expected global sugar deficit in the 2024/25 season to 2.51 million tonnes, down from a previous projection of 3.58 million tonnes.

It is reported by The Business Times.

The inter-governmental body, in a quarterly update, also estimated there was a global surplus of 1.31 million tonnes in the 2023/24 season (October/September) compared with a deficit of 200,000 tonnes seen previously.

«This latest shift to a surplus (in 2023/24) was driven by lower consumption estimates», — the ISO said, also cutting its consumption forecast for 2024/25.

Global consumption in 2024/25 was revised down to 181.58 million tonnes from 182.87 million tonnes for 2023/24.

Global sugar production in 2024/25 was forecast to total 179.07 million tonnes, down marginally from a prior projection of 179.29 million tonnes and 1.3% below a record 181.37 million tonnes in 2023/24, the ISO said.

Further development of the grain sector in the Black Sea and Danube region will be discussed at the 23 International Conference BLACK SEA GRAIN.KYIV on April 24 in Kyiv.

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