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Marex Spectron sees small global sugar deficit in 2018/19

Reuters  |  LONDON 

(Reuters) - has revised its forecast for the 2018/19 global sugar balance, switching its outlook to a small deficit due to expectations for lower output from Brazil, India, and the

The forecast a deficit 1.05 million tonnes (raw value) for the current 2018/19 season having earlier forecast a surplus of 3.21 million tonnes.

pegged the shift on expectations for lower output in countries such as Brazil, India, as well as the EU as unfavourable weather and more focus on ethanol dent sugar production.

The shortfall will likely be offset by ample global stocks, after a massive surplus in the 2017/18 season, the said.

said early signs also point to a potential deficit in the 2019/20 season, as low prices inspire farmers to switch away from cane or beet.

(Reporting by Ana Ionova; editing by Jason Neely)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 05 2018. 16:32 IST