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Sugar #11 Mar 22 (SB=F)

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  • Reuters

    ISO sees global sugar deficit of 2.55 million T in 2021/22

    The International Sugar Organization (ISO) on Thursday forecast a global sugar deficit of 2.55 million tonnes in the 2021/22 season, with a diminished outlook for consumption reducing the size of an anticipated shortfall. The ISO, in a quarterly market outlook, put global consumption in 2021/22 at 173.03 million tonnes, down 1.44 million from its previous projection issued in August, although up 1.2% from the prior season. "Downward revisions in national consumption totals reported by governments have been reflected in these latest figures, with lower tourism, domestic disturbances, and changing consumption patterns as contributing factors," the ISO said.

  • Reuters

    Analysis-Big U.S., Brazil harvests and slowing China demand ease some crop shortage fears

    Big U.S. harvests, near-perfect weather for planting in Brazil and signs of slowing purchases by top buyer China are bolstering supplies of two of the top globally traded commodities: soy and corn. The rising stocks indicate that prices for those key crops, as well as for other staples such as sugar and coffee, may have peaked after the surge sparked by the onset of the pandemic, farmers, brokers and analysts said. Lower crop prices would be good news for consumers after global food prices soared to the highest level in a decade, according to the United Nations food agency.

  • Reuters

    India's 2021-22 sugar output seen 1.6% lower than previous estimate -ISMA

    India is likely to produce around 30.5 million tonnes of sugar in the season which on Oct. 1, 1.6% lower than a previous industry estimate, a leading producers' body said on Thursday. The Indian Sugar Mills Association (ISMA) in June said mills were expected to churn out 31 million tonnes of sugar in the 2021/22 season. Estimates of higher diversion of cane juice and molasses - a by-product of the sugar manufacturing process - for ethanol would result in marginally lower sugar output in the 2021-22 season, ISMA said in a statement.