Sugar: Outlook to 2004-05 and implications of policy reform

摘要

world sugar prices are forecast to be at historical lows in 1999-2000, but world sugar production is expected to increase from the previous season's level as a result of agronomic factors together with policies in some major countries that prevent domestic producers from responding to world market price signals. A projected reduction in world sugar stocks as consumption expands more rapidly than production from about 2000-01 augers well for a steady increase in prices over the medium term. Expected increases in cane yields due to a return to normal growing conditions i s forecast to result in minor increases in Australian sugar production in the short term, and more significant rises later in the outlook period as prices improve.