London, Feb. 7 - Early indications suggest balanced global sugar production and consumption in the 2008-09 season (October-September), the International Sugar Organization said in its monthly report released Thursday.
This contrasts with the current forecast for the 2007-08 season, which shows an 11.1 million ton surplus.
ISO plans to release a fresh assessment of the 2007-08 balance sheet in the second half of February, but in Thursday's report ISO said it currently doesn't expect to make any changes.
"The world sugar economy remains well supplied facing another season of record production and high level of stocks," said ISO on the 2007-08 crop year.
ISO said a better balance between production and consumption in 2008-09 is still expected to be accompanied by a sizable trade surplus.