look news india
New Delhi: Despite the fall in sugar production in Brazil, the largest sugar producing country, there is unlikely to be any major impact on global sugar production this year. According to the US Department of Agriculture, global sugar production this year is expected to increase by 2.5 million tonnes to 1.86 million metric tonnes, which will compensate for the lower production in Brazil.
Sugar production in India is expected to increase. Sugar prices are expected to remain stable due to higher production than consumption and strong export demand from Indian industry.
Even though the Indian Sugar Organization is estimating a lower sugar production in the country this year, a global report has estimated sugar production in India to be higher than last year.
Sugar production in Thailand is expected to increase by 16 percent to 10.2 million tonnes. Australia's production is estimated to increase by one lakh tonne to 42 lakh tonnes, while China's production is expected to increase by five lakh tonne to 10.4 lakh tonnes.
Brazil is expected to produce 15 lakh metric tons less sugar this year. Last year global sugar production was 1835 lakh tons. In which Brazil was the top producer with 455 lakh tons, while India was second with 340 lakh tons.
Global sugar consumption is also rising, but the world sugar market is likely to remain in surplus due to the slow recovery in global economies, which is unlikely to lead to higher sugar prices, the report said.
