ISO Updates World Sugar Deficit Forecast for 2024/25 Season

The International Sugar Organization (ISO) has revised its forecast for the world sugar market, anticipating a deficit of 4.88 million metric tons for the 2024/25 season. This new estimate marks a substantial jump from the group's earlier November 2024 forecast of 2.51 million tons. This revision is a sign of persistent problems in the production of sugar, especially in top-producing nations such as Brazil and India. These include weather-related difficulties causing a loss of crop yields and higher diversion of sugarcane into ethanol production. This estimated deficit is likely to affect world sugar prices and trade patterns in the months ahead.
Source: International Sugar Organization (ISO) Quarterly Market Outlook