Sugar output is poised to drop for the first time since 2009 as farmers from Mexico to India cut plantings after the biggest two-year price slump since 1999.
Global output will decline to 165 million metric tons in the 2013-14 marketing year that will start in October in most countries, according to DZ Bank AG, Germany’s largest cooperative lender. The crop will be a record 172.3 million tons in 2012-13 after three consecutive expansions, the U.S. Department of Agriculture estimates. Raw sugar in New York will rise 9.9 percent to average 20.5 cents in the fourth quarter, the mean of nine bank estimates compiled by Bloomberg shows.
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