Global sugar consumption needs to outstrip supply by at least 3 million metric tonnes to 4 million tonnes before prices recover significantly, according to the International Sugar Organization.
Farmers load sugarcane onto a truck in Khon Kaen's Nong Rau district. (Bangkok Post photo)
The world market will have a surplus of 1.3 million tonnes in the 12 months starting October, a fifth year of glut, and a small deficit in the following year, said Lindsay Jolly, the senior economist. The oversupply will be about 4 million tonnes this season, he said in an interview in Indonesia yesterday.
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