EU 2007/08 sugar output seen as steady
LONDON (Reuters) – Analyst F.O. Licht forecast 2007/08 European Union beet sugar output at 17.45 million tons yesterday, little changed from its estimate of 17.38 million tons in 2006/07. «Early indications are that production will be significantly higher than expected, at around 17.4 million tons, hardly changed from the previous year,» Licht said in its first estimate of European beet sugar production in 2007/08. «Hence significant quantities will have to be carried over into 2008/09 and the area sown to beet reduced accordingly,» Licht said in a statement. The analyst said the growth season in northern Europe got off to a good start and a record harvest is expected, Licht said. «A good start for the growth period combined with this summer’s heavy rainfall means that sugar yields per hectare will be above average,» Licht said. Licht predicted that sugar beet output in Europe, that is, the EU as well as Russia, Turkey and Ukraine, in 2007/08 stood at 26.48 million tons, down from 27.36 million in 2006/07. This is the result of the surplus in Ukraine last year which forced farmers to cut back.
