Kingsman Cuts Sugar Deficit Forecast by 29% on Giant Brazil Crop
- Brazil center-south output seen at record 36.4 million tons
- Global sugar shortages to widen in 2016-17 on Asian crops
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A record sugar crop in Brazil’s center south, the main growing region of the world’s largest producer, means this season’s global shortage will be 29 percent smaller than previously thought, according to Kingsman, a unit of S&P Global Platts.
World production will fall short of demand by 5.48 million metric tons in the season started last October, down from an earlier estimate of 7.67 million tons, the researcher said in a report. Output in the Brazilian region will climb to 36.4 million tons, 3.7 percent more than an earlier forecast. That would be a record, data from industry group Unica showed.