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Kingsman Raises 09/10 Global Sugar Deficit

Source: Reuters
25/09/2009

London, Sept 25 - Lausanne-based consultancy Kingsman on Friday raised its forecast for the global sugar deficit in 2009/10 to 8.3 million tonnes from a previous forecast for a deficit of 5.1 million tonnes.

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It said in a statement a poor West Asian monsoon and excessive rains in Brazil, the world's top sugar producer, had led to the upwards revision in the deficit forecast.

"Since the last release of 2009/10 forecasts back in mid-June, a partial failure of the West Asian monsoon, combined with an exceedingly wet centre/south Brazil harvest, have warranted a reduction in global sugar (output) forecasts," Kingsman said.

The consultancy scaled back its 2009/10 global sugar output forecast to 155.15 million tonnes, from 160.41 million previously.

It trimmed its 2009/10 global sugar consumption forecast to 163.47 million tonnes, versus 165.52 million previously.



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