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The USDA Foreign Agricultural Service recently released its biannual report on sugar, "Sugar: World Markets and Trade". > Global production for 2016/17 is up 5
by politician 10y ago
The USDA Foreign Agricultural Service recently released its biannual report on sugar, "Sugar: World Markets and Trade".
> Global production for 2016/17 is up 5 million metric tons (raw value) to 171 million as gains in Brazil and the European Union and most of the top 25 producers more than offset declines in India and Thailand. Global raw sugar
monthly average prices, after falling for over a year and bottoming at less than 11 cents per pound in August 2015, have been trending higher to near 23 cents in October 2016. Despite high prices, consumption is forecast at a record 174 million tons, drawing stocks down to the lowest level since 2010/11. The global sugar deficit narrows from 6.7 million tons in 2015/16 to a forecast 2.6 million.
That the price of sugar has doubled over the past year amid shrinking stocks probably explains why Nestle is interested in cutting their use of the ingredient.
[1] https://apps.fas.usda.gov/psdonline/circulars/Sugar.pdf https://apps.fas.usda.gov/psdonline/circulars/Sugar.pdf