Natural disasters: Intl. sugar production expected to remain low
Business
Natural disasters: Intl. sugar production expected to remain low
International sugar production is expected to remain 1.2 percent lower than estimates due to dry weather conditions and natural disasters. According to the statistics released by the American agriculture department the global sugar production would remain 160.19 metric tons this year which is 1.9 million metric ton less than the estimates. The report also reveals that dry weather proves devastating for the sugar-cane crop in Brazil. Russian drought and recent deluge in Pakistan also affected the sugar-cane crop. Total expected consumption of sugar would be 150.79 metric tons in 2011 which is still less than the expected production. Experts are of the opinion that the sugar prices are jumping up due to increased purchases and this would continue in the coming days.
