Giant Sugar Glut Erases Two Years of Shortages on Asian Monsoon
- Green Pool raises its surplus forecast to 10.4 million tons
- Global glut is expected to be the biggest in five years
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Forget the sugar shortages of the past two years. This season’s glut is now forecast to be big enough to completely erase that.
Aided by favorable Asian rains, global supply will beat demand by 10.4 million metric tons in 2017-18, 26 percent more than the combined deficits in the past two seasons, according to researcher Green Pool Commodity Specialists. The glut is forecast to be the biggest in five years and compares with an October estimate of 9.8 million tons.