Kingsman SA has revised its estimate of global sugar output for FY11 to 167.72 million tonnes raw value, from its earlier forecast of 170.17 MT With consumption pegged at 164.20 mt, the production surplus for the crop year to March 2011 would be 3.52 mt. This is lower than the 5.17 mt excess that Kingsman had projected on June 1, based on a consumption assumption of 165 mt, adds report.
Jonathan Kingsman, at the 2nd Indian Sugar Summit said that “The global surplus we had expected earlier this year is reducing. This small surplus will help rebuild the earlier depleted stocks, but given the sizeable deficit forecast for the first half of 2011, the global balance would still be tight. And we are assuming no further weather-related production risks,” the head of the Lausanne-based sugar consultancy.”