Sugar deficit of 6.7mn tonnes seen in 2019/20: Louis Dreyfus Company

NEW YORK: A global sugar deficit of 6.7 million tonnes is seen developing in 2019/20, following a 401,000-tonne surplus in the previous season, Luca Meierhofer, head of global cash trading at Louis Dreyfus Company, said in a presentation on Wednesday.

Production in historic top-producer Brazil is seen rising only slightly in the season to 26.7 million tonnes, from 26.5 million tonnes in 2018/19, Meierhofer said at an event at New York Sugar Week.

The sugar mix is also seen increasing only slightly, to 35.3pc from 35.2pc in the previous year as Brazil's demand for ethanol remains robust.