China's sugar output seen lower on drought in southwest
Sugar
China
Published Mar 10, 2023
Tridge summary
Sugar output in China's top growing region is set to be the lowest in six years, said Australia-based Green Pool Commodities on Thursday, as it revised down its estimate for production in one of the world's top producers. Green Pool expects output in southwestern Guangxi region to drop to 5.4 million tonnes in the 2022/2023 season, it said in a report, down 12 per cent on last year, and the lowest since 5.3 million tonnes in 2016/17.
Original content
BEIJING : Nationwide production will fall to 9.17 million tonnes, it said, reducing its forecast from last month's estimate of 9.52 million tonnes. "Guangxi's rapid winding down points to dwindling cane supply," said the Green Pool report, referring to a shorter than usual harvest. "Local farmers suggested that some cane harvested later in the season has featured considerable drought damage," it added. China's agriculture ministry also reduced its forecast for the country's production by 7.2 per cent to 9.3 million tonnes this week. The cut comes as expectations of lower production in other major producers Thailand and India push global prices to multi-year highs. The most-traded contract on China's Zhengzhou Commodity Exchange has rallied almost 5 per cent this month to 6,205 yuan ($891.29) per tonne, its highest level in six years, amid market concerns over the domestic crop. China is the world's second largest sugar consumer after India and relies on imports to meet ...
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