Tridge summary
The ISO has revised its forecast for the global sugar surplus in the 2022/23 crop year, reducing it from 6.2 million tons to 4.2 million tons. This is lower than the Reuters poll average of 3.25 million tons. The production forecast has been reduced to 180.4 million tons from 182.1 million tons, largely due to a decrease in production in India and Western Europe, which is now projected at 34.3 million tons and 15.2 million tons respectively, rather than the previous forecasts of 35.5 million tons and 16.6 million tons. Despite these production challenges, global sugar consumption has been marginally increased to 176.3 million tons from 176 million tons.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The ISO quarterly report shows that the global sugar surplus in the 2022/23 crop year (October-September) is forecast at 4.2 million tons, down from the previous forecast of 6.2 million tons. there. A Reuters poll of traders and analysts in early February 2023 had averaged a 2022/23 surplus at 3.25 million tonnes. ISO estimates that global sugar production in the 2022/23 crop will increase to 180.4 million tons, down from the previous forecast of 182.1 million tons. Sugar production in India fell to 34.3 million tons from the previous forecast of 35.5 million tons. India produces less sugar due to the early ripening of the cane crop and is damaged by adverse weather in ...
Source: Vinanet
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