Green Pool Commodities on Monday narrowed its 2014/15 global sugar deficit forecast to 100,000 tonnes, from a mid-year forecast for a 1.0 million tonnes deficit and a surplus of 4.5 million tonnes for 2013/14. Its annual crop production forecasts are based on crop year cycles. The research and analyst firm said it expected sugar output in centre-south Brazil of 31.3 million tonnes, down 3 million from the previous year.
Australia-based Green Pool said that for number 2 sugar producer India, it was keeping its forecast for output at 25 million tonnes, at the low end of the estimate of the Indian Sugar Mills' Association (ISMA). The analyst cited concerns over crop health, internal prices, and arrears in payments to growers.