(Bloomberg) -- Sugar fell in New York, capping the
biggest weekly decline this year, on concern that a global
surplus will widen as demand fails to keep pace with rising
supply from India and Brazil, the world's largest producers.
Global production will exceed demand by as much as 9.2
million metric tons in the year ending Sept. 30, according to
the International Sugar Organization in London. The group
estimates output will rise 0.8 percent in Brazil to the
equivalent of 32.72 million tons of raw sugar, a record, and
India's will jump 33 percent to 27.75 million, the group said.
Read more at Bloomberg Commodities News
biggest weekly decline this year, on concern that a global
surplus will widen as demand fails to keep pace with rising
supply from India and Brazil, the world's largest producers.
Global production will exceed demand by as much as 9.2
million metric tons in the year ending Sept. 30, according to
the International Sugar Organization in London. The group
estimates output will rise 0.8 percent in Brazil to the
equivalent of 32.72 million tons of raw sugar, a record, and
India's will jump 33 percent to 27.75 million, the group said.
Read more at Bloomberg Commodities News
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