The International Sugar Organization (ISO) has made its first forecast for the global sugar balance for the 2023/2024 season (October to September).
According to the review, published on Thursday, the new season on the world sugar market will be in deficit.
Production is projected at 174.839 million tons compared to 174.024 million tons in 2022/2023, while global consumption is projected at 176.957 million tons compared to 176.531 million tons, respectively.
Thus, the deficit of sugar on the world market in the coming season will amount to 2.118 million tons.
