#Sugar price rally not over yet, says ISO, flagging 'critically low' stocks
Tues 30th August 2016
The rally in sugar prices, already close to four-year highs, has further to run, spurred by the fall in world inventories to "critically low" levels, the International Sugar Organization said, despite foreseeing a rise in output.
The intergovernmental group, in its first forecast for the world sugar production deficit in 2016-17, pegged it at 7.05m tonnes, one of the highest shortfalls on record.
Following on from a 5.74m-tonne deficit in 2015-16, on an October-to-September basis, the shortfall leaves the world looking at a tumble in stocks below 75m tonnes by the end of next season.