ISO sees jump in world sugar deficit

LONDON – The world’s sugar deficit is expected to jump to 2,8 million tonnes in 2004/05 from a 0,95 million tonne deficit a year earlier, the International Sugar Organisation (ISO) said in its first 2004/05 forecast yesterday.

“After a season of a small statistical deficit, the world sugar economy is facing a season of a much more significant production shortfall,” the London-based ISO said in its September 2004 quarterly market outlook. “The first forecast of the world sugar balance for the period from October 2004 to September 2005 shows that world production will be 2.8 million tonnes lower than world consumption,” the ISO added.”Consequently, the statistical outlook for the market is more constructive (in terms of market values) than it has been for more than 10 years.”The 2004/05 season is expected to feature further production growth in Brazil, the world’s biggest sugar producer, supported by growth in output seen for China and Australia, the ISO said.-Nampa-Reuters”The first forecast of the world sugar balance for the period from October 2004 to September 2005 shows that world production will be 2.8 million tonnes lower than world consumption,” the ISO added.”Consequently, the statistical outlook for the market is more constructive (in terms of market values) than it has been for more than 10 years.”The 2004/05 season is expected to feature further production growth in Brazil, the world’s biggest sugar producer, supported by growth in output seen for China and Australia, the ISO said.-Nampa-Reuters