Global sugar deficit likely to be accentuated by lower Chinese supply, says StoneX
Sugar
China
Published Jan 20, 2022
Tridge summary
The global sugar balance in the 2021/22 season (October to September) is expected to reach a deficit of 1.9 million tons – an increase of 1.1 million tons compared to the shortfall of 3 million tons in 2020/21, according to a new report. vision released this Wednesday morning, 19, by StoneX. Even so, the negative value is greater than the 1.8 million tons of the previous estimate.
Original content
Although global production of the sweetener could accumulate an annual increase of 1.5% in the 2021/22 season, to 186.5 million tons, the consultancy expects a reduction of 139 thousand tons compared to the publication of November last year due to the lower Chinese production. “The occurrence of frosts in Guangxi, an important sugar producing region, and the greater exchange of area for more competitive crops, pressured the prospects for the country's supply”, explain StoneX market intelligence analysts Marina Malzoni and Rafaela Souza . The coldest climate in 45 years resulted in the freezing of beet crops, at the same time that excessive rainfall in the province has reduced the accumulation of sugar in the cane fields, a condition that led the consultancy to reduce its estimate for the Chinese production, projected for 10 million tons of white sugar (reduction of 6.3% in the crop-to-crop comparison). On the consumption side, StoneX adds that the trend is for imports by China to ...
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