U.S.D.A. sees lower world sugar stocks

by Ron Sterk
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WASHINGTON – The U.S. Department of Agriculture in its semi-annual Sugar: World Markets and Trade report said global sugar consumption in 2016-17, forecast at a record 173.6 million tonnes, up 1.8 million tonnes from this year, would draw stocks down to 32.8 million tonnes, the lowest since 2010-11 and “approaching what appear to be historically low levels.” Global sugar production was forecast at 169.3 million tonnes, up 4.4 million tonnes from 2015-16 as gains in Brazil and the European Union more than offset a decline in India. “Market returns are needed to provide incentives for producers to catch up with demand,” the U.S.D.A. said. Production in 2015-16 was estimated at 164.9 million tonnes, down 12.3 million tonnes from last year. Consumption was estimated at 171.8 million tonnes, up 1.4 million tonnes, and ending stocks were estimated at 37.8 million tonnes, down 8 million tonnes. 

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