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LONDON, Aug 31 (Reuters) – The International Sugar Organization (ISO) on Wednesday forecast a global sugar surplus in the 2022/23 October to September season, driven by record production.
The inter-governmental body’s quarterly update projected a global surplus of 5.6 million tonnes in 2022/23, compared with a deficit of 1.3 million tonnes the previous season.
Global production in 2022/23 was forecast to rise to a record high of 181.9 million tonnes, up 4.5% from the previous season.
Global consumption was forecast to increase by only 0.5% to 176.3 million tonnes.
(Reporting by Nigel Hunt)
((nigel.hunt@thomsonreuters.com; +44 20 7542 8421; Reuters Messaging: nigel.hunt.thomsonreuters.com@reuters.net))
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