May 15, 2019 / 4:38 PM / 4 months ago

Sugar deficit of 6.7 million tonnes seen in 2019/20: Louis Dreyfus Company

A sugarcane field in development stage is seen at a farm in Jacarezinho, Brazil January 1, 2019. Picture taken January 1, 2019. REUTERS/Marcelo Texeira

NEW YORK (Reuters) - A global sugar deficit of 6.7 million tonnes is seen developing in 2019/20, following a 401,000-tonne surplus in the previous season, Luca Meierhofer, head of global cash trading at Louis Dreyfus Company, said in a presentation on Wednesday.

Production in historic top-producer Brazil is seen rising only slightly in the season to 26.7 million tonnes, from 26.5 million tonnes in 2018/19, Meierhofer said at an event at New York Sugar Week. The sugar mix is also seen increasing only slightly, to 35.3% from 35.2% in the previous year as Brazil’s demand for ethanol remains robust.

Reporting by Ayenat Mersie; Editing by Susan Thomas

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