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Our Bureau

Mumbai Sept. 20

GLOBAL sugar prices are expected to stay firm with production trailing consumption by about two million tonnes during 2003-04.

The Food and Agriculture Organisation (FAO), in its latest Food Outlook estimated world sugar production at 141.1 mt, down almost 5 per cent from the 2002-03 because of smaller production in India and China.

World sugar consumption, on the other hand, is placed at 143.1 mt, a rise of nearly 3 per cent, reflecting a continued strong growth and an anticipated fall in stocks worldwide.

Global cereal output is forecast to rise on par with consumption in 2004.

World cereal output prospects are favourable. The FAO placed world cereal production at 1,985 mt following larger than expected harvest of wheat in Europe and favourable crop conditions for maize (corn) in the US.

This development will avert another major drawdown of global cereal stocks and provide sufficient buffer for contingencies.

Since June, cereal prices have remained soft. International prices are expected to be less volatile in 2004-05.

More Stories on : Sugar | Foodgrains

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