The sugar-cane crop in Brazil’s center south, the main growing region of the world’s biggest producer, may climb 60 million to 65 million metric tons in the season that starts there in April, according to Kingsman SA.
The global sugar surplus may be 30 percent larger than earlier estimated as bigger harvests from Brazil and India, the largest producers, drive a “period of low prices,” researcher and broker Kingsman SA said today.
Raw sugar may extend gains from a five-month high as adverse weather lowers output in countries including Russia and China and as a logjam in Brazilian ports slows exports from the top producer, broker Kingsman SA said.
Sugar output in India, the second- biggest producer, will drop for the first time in four years next season as dry weather in some regions spurs farmers to plant other crops, broker and researcher Kingsman SA said.
The sugar cane crop in Brazil’s center south, the main growing region of the world’s biggest producer, will be 2 percent smaller than a previous estimate, according to broker and researcher Kingsman SA.
The sugar market may have a smaller surplus than earlier forecast because of crop damage in nations including Russia and Pakistan, and dry weather in Brazil, the top producer, according to Kingsman SA.