The U.S. Department of Agriculture expects to date for the marketing year 2010/11 with a re-population of only 311 000 t - go FAO forecasts in the same direction - EU-27 become the largest importer - Brazil's exports likely to grow less strongly than predicted so far - cane sugar future prices again after correction in the upward movement
ROM / NEW YORK / WASHINGTON. On the world market for sugar is also distinguished in the current state of the economy in 2010/11 from a production surplus. This would however be much smaller than had been predicted in the spring by the U.S. Department of Agriculture. Been forecast by the Washington experts for the current campaign is now a world sugar production of 161.9 million tonnes, which would be 8.4 million t or 5.5% more than last year. This production volume is a global consumption of 158.9 million tonnes compared with available sugar. To the calculated difference of around 3 million tonnes - compared with just over 6 million tonnes in the May forecast - in reality is however, a considerable shrinkage, which is why the U.S. agricultural department only a slight increase in global sugar stocks by 311 000 tonnes to 26 predicts 5 million tonnes at the end of the 2010/11 season. The trend in the same direction, the first forecasts of the Food and Agriculture Organization of the United Nations (FAO) for the development of the world sugar market in the current marketing year. According to the estimates of market experts in Rome, the global sugar production will increase compared to 2009/10 by 7.8% to 168.8 million tonnes, while consumption should grow by 2.2% to 166.1 million tonnes. The sugar stocks will rise purely arithmetically by 1.6 million tonnes or 2.9% to 56.4 million tons.
