Global sugar shortage outlook raised by green pool on El Nino

Global sugar shortage outlook raised by green pool on El Nino 

A global shortage of sugar will be larger than previously expected in the next season as El Nino-induced droughts hurt crops in Asia.

According to Australia based research organization, Green pool commodity specialists, the world is heading for a second straight annual deficit, following half a decade of surpluses. It says drought is eroding potential production in India, Thailand and China for this season and the next.  Green Pool also increased its estimate for the 2015-16 shortage. The researcher now expects a deficit of 6.65 million tons, compared with an earlier forecast of 4.14 million tons.