CovrigAnalytics: The global sugar market may have a slight surplus for two consecutive years

CovrigAnalytics said in a report that there was an excess of 600000 tons of global sugar production in 2021 / 22. In 2022 / 23, due to the high benchmark price and good weather driving the crop prospects of major sugar producing countries, it is expected that in 2022 / 23, the sugar output of Thailand will reach 10.65 million tons again, that of South Central Brazil will also increase to nearly 34 million tons, that of India will decrease slightly to 30.9 million tons, and that of other major producing countries will change little. Therefore, in 2022 / 23, the global sugar market may have a slight oversupply again.