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Latest From Christoph Berg
World sugar markets continue to be weighed down by the huge stock overhang caused by record crops in India and Thailand.
With only six sugar mills still crushing in the week to May 8, the 2018/19 Thai sugar season has virtually ended.
After hitting an all-time high of 10.7 mln tonnes in 2018/19 (Oct/Sep), sugar output in Maharashtra is likely to decline by 15 - 20% in the next crushing season due to lower acreage, said Prakash Naiknavare, managing director, National Federation of Co-operative Sugar Factories.
Only four out of 119 sugar mills had ended this season's cane crush in India's largest sugar producing state - Uttar Pradesh (UP) - on May 16, 2019, official data show.
World sugar futures slipped back further in slow dealings as the real weakened against the US-dollar.
The slow pace of production has prompted sugar stocks to fall to a five-year low at the start of the 2019/20 season, data by MAPA showed.