Indian sugar mills association

Asia faces sugar deficit

Date:	01 Mar 2012

Source:	The Business Line

Reporter:	Bloomberg

News ID:	955

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The Asian region faces a long term sugar deficit, with demand set to exceed supply by about 3 million tonnes this year, according to Mr Tom McNeill, Director at Green Pool Commodity Specialists. Supply growth can`t keep pace with increases in consumption as economies expand, Mr McNeill told reporters today. The Asian deficit may help absorb some excess supply in the global market as world output is set to top demand for a second season in 2012-13. The surplus may be 7.5 million tonnes this year and 4.5 million tonnes next year, said Mr McNeill, matching a forecast for successive surspluses by Olam International Ltd. Raw sugar on ICE Futures US lost 27 per cent in 2011, the biggest drop in a decade, as traders sold the commodity on anticipation of the second global surplus.

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