World’s Top Sugar Trader Expects Two Years of Shortages Ahead
- Alvean see 5 million ton deficit this season, 6 million next
- ‘The world needs sugar from India,’ CEO de Souza says
Sugar is unloaded from a truck at the Port of Santos in Santos, Brazil.
Photographer: Paulo Fridman/Bloomberg
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The world’s largest sugar trader expects the global market to face two years of shortages, the most “constructive” backdrop since 2016.
Alvean, a joint venture between Cargill Inc. and Brazilian producer Copersucar SA, expects sugar production to fall short of demand by 5 million metric tons this season, Chief Executive Officer Paulo Roberto de Souza said Monday in a phone interview. That will be followed by another deficit of 6 million tons in 2021-22, he said.