Global Sugar Production to Hit 172.3 Million Tons in 12/13

By CnAgri2012-12-25 10:58:26 Print  According to USDA, the global sugar production in 2012/13 shall be 1.2% less than the forecast made in May, but the global stock shall rise by 16%.
 
The global sugar production in 2012/13 (from 1^st October) could be 172.3 million tons, less than the 174.5 million tons forecasted in May. The stock in the world shall be 38.30 million tons, larger than the previous forecast of 33.10 million tons.
 
Owing to the oversupply in the world, the ICE futures price for raw milk has dropped by 15% in 2012. According to USDA, Thai sugar stock shall be 5 folds more than the forecast made in May, whereas both China and the EU shall double their stock.
 
The global production was 172.1 million tons in last year and the stock was 36.20 million tons.

From “China Sugar Market Monthly Report”