Global: ISO expects the shortfall in sugar supply to shrink to 7.2 million tons.
The global sugar supply gap is expected to narrow to 7.2 million tons in 2009 and 11.3 million tons in 2008, Dow Jones News International Sugar Organization ISO said on Friday.
ISO narrowed its forecast for the gap in 2009 to 8.4 million tons in September.
It is said that sugar production is expected to increase in Brazil and India, the world's two largest sugar producers, as well as in the European Union.
The three main characteristics of the supply side in 2009 are the limited increase in Brazilian sugar production, the moderate increase in Indian sugar supply after a shortage last year, and the increase in EU production.
In addition, the global inventory / consumption ratio is expected to fall to 32 per cent in 2009 / 10, the lowest since 1989 / 90 and 37 per cent in 2008 / 09.
According to estimates, global inventories will decline by 7.254 million in 2009 / 10. Continued decline in inventories will further support global sugar prices.
ISO expects global sugar production to increase to 159.9 million tons in 2009 / 10 and 153 million tons in 2008 / 09.
Global sugar consumption is expected to increase to 167.1 million tons in 2009 / 10 and 164.3 million tons in 2008 / 09.
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