The global sugar surplus in 2012-13 will be 8.4 million metric tons, up from 7.8 million tons estimated for 2011-12, Czarnikow Group Ltd. said in its first forecast for the new season.
Sugar cane production may rise to a record 144.1 million tons in 2012-13, up from 139.2 million tons a year earlier, the London-based company said in an e-mailed report today. Sugar beet output may drop to 36.9 million tons, or 2.4 million tons less than the 2011-12 record.
“The 2012-13 season is set to deliver a second successive global production surplus,” Czarnikow analyst Peter de Klerk said in the statement. “As a consequence supply risks are continuing to ease.”
To contact the reporter on this story: Whitney McFerron in London at firstname.lastname@example.org.
To contact the editor responsible for this story: Claudia Carpenter at Ccarpenter2@bloomberg.net.