Sugar estimates
NZPA-AFP London World sugar output will hit 108.9 million tonnes in 198889 (September-August), against 104.5 million the previous season, according to statistics released by the International Sugar Organisation.
Consumption is estimated at 108.25 million tonnes for calendar 1989, against 106.7 million for 1988. Surplus stocks at the start of the 198889 season are estimated at a mere 1.5 million tonnes.
The organisation said forecasts indicate a balanced market, the difference of 650,000 tonnes between production and consumption being only a "technical surplus,” resulting particularly from the fact that the sugar year and the calendar year are different.
The ISO expects almost all sugar produced in 1988-89 to be consumed during the same period, and that stocks will be low at the start of the 1989-90 season.
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Press, 5 December 1988, Page 20
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128Sugar estimates Press, 5 December 1988, Page 20
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