Sweetener for sugar exports: Forecast of global shortage offers fresh hope

This is because the Indian industry contending with brimming inventories has been given a mandate by the government to sell 6 mt in the world market

Production and consumption forecasts and the resultant global surplus or deficit are the principal movers of raw sugar futures (raws) prices on the Intercontinental Exchange (ICE) in the US. With Brent crude holding well above $65 a barrel and seemingly on track for monthly gains in the new year, Brazil, the world’s largest producer and exporter of sugar, will be using a still higher percentage of its sugarcane output to make ethanol. Expert body reports suggesting a global shortfall of up to 8 million tonnes (mt) between sugar production and use in the current season that began in October 2019,