date:Aug 02, 2013
national Sugar Organization report, world sugar output was more than 187 million tons by May end, 7.5 million tons higher than in the last crop.
Sugar supply is thus far in excess of demand by about 10 million tons whereas it is forecast that sugar output in the 2013-2014 crop will be in excess of 1.5 million tons.
Despite low price of sugar in the market, plants cannot reduce price of sugarcane, resulting in some plants temporarily shutting down.
In addition, farmers have been forced to reap