ISO forecasts global sugar deficit of 2.12 million tons in 2023/24 - outlook for sugar prices is neutral-to-bullish

International Sugar Organization
Friday, August 11, 2023
First detailed ISO assessment of 2023/24 balance reveals a deficit of 2.118 mln tonnes. Production increased to 174.839 mln tonnes, consumption to 176.957 mln tonnes. Global trade balance for 2023/24 sees deficit of 2.814 mln tonnes, exports down 3.96 mln tonnes. Reconciliation of 2022/23 season, which ends next month, has a surplus of 0.493 mln tonnes. Futures market prices weaker over the last three months, outlook is neutral-to-bullish.
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