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DJ UPDATE: ISO Sees Small World Sugar Surplus In 2010-1177 days ago
(Adds Indian production.)
LONDON (Dow Jones)--World sugar production should exceed consumption in 2010-11 as high sugar prices encourage plantings, Sergey Gudoshnikov, economist at the International Sugar Organization, said Tuesday.
The ISO expects a small world 2010-11 sugar surplus of between 0.5 million metric tons and 1 million tons.
This reflects a rebound in production after an estimated deficit of 11.3 million tons in 2008-09, and 7.2 million tons in 2009-10, said Gudoshnikov.
World sugar production fell sharply, due to farmers in India, the world's second largest producer, switching to more profitable crops.
According to the ISO, Indian production is expected to rebound to around 24 million tons in 2010-11, from around 15 million tons the previous year.
-By Sarah Mcfarlane, Dow Jones Newswires; +44 20 7842 9327; sarah.mcfarlane@dowjones.com;
(END) Dow Jones Newswires
November 24, 2009 07:09 ET (12:09 GMT)
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