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Czarnikow sees need for at least 15 mi additional sugar t in the world by 2020

 

Commodities house Czarnikow Group said on Monday that global sugar production will need to grow from 15 million to 20 million tons by 2020 to meet the increased demand.

The global supply deficit is expected to be slightly over 8 million tons in the current crop year 2015/2016, said sugar trader at Czarnikow, Oliver Hire.

Prices will have to increase in order to encourage greater production of sugarcane in countries like Brazil and Thailand to keep pace with growing demand, according to a presentation at the International Sweetener Colloquium, in the USA.

Prices remain relatively low due to large stocks, large production in Brazil, currency fluctuations and general sales speculators.

(Reuters)

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