Asia sugar output seen signficantly lower in 2016-17

Sugar production in Asia is expected to be significantly lower in the 2016/2017 sugar season, as the 2015 El Nino-induced drought pulled output down to a five-year low, according to Rabobank’s latest report ‘Hurry Cane: Managing Higher Sugar Prices in Asia’ released on Monday.

India, the world’s second largest producer of sugar, will witness a fall in production by 3.7 million tonnes due to consecutive droughts in 2014-15 and 2015-16 and will become a net sugar importer in 2016 -17, the report adds.

For 2015/2016, Rabobank is forecasting that Asia will witness its first sugar deficit year in over five years with an estimated deficit of 2 million tonnes. On a global level, while Europe and Brazil are forecast to see improved production next year, Rabobank is expecting a world sugar deficit of ~5.5 million tonnes in the next sugar season.

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