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Sugar Output in India Beating Demand for Fourth Year on Rain

Sugar output in India, the world’s second-biggest producer, will probably exceed demand for a fourth year as the best monsoon since 2007 boosts cane yields.

Production may total 24.42 million metric tons in the year that began Oct. 1, according to a survey of 874 farmers across six states by Geneva-based SGS SA for Bloomberg News. That compares with forecasts for domestic consumption of 23.5 million tons and output of 25 million tons by the Indian Sugar Mills Association. The crop fell 4.7 percent to 25.1 million tons in the year ended Sept. 30 from a year earlier, it estimates.

Sugar fell 9.5 percent this year to 17.65 cents a pound on ICE Futures U.S. yesterday.

Source: bloomberg