China, the world's biggest sugar importer, may harvest its second-largest sugar crop after favorable weather spurred farmers to increase planting, potentially cutting overseas purchases and widening a global surplus. Prices fell.
Production may climb 19 percent to 13.7 million metric tons in the season starting October, according to the median estimate in a Bloomberg survey of nine analysts and traders. Output totaled 11.5 million tons this season, according to the China Sugar Association. The crop reached a record 14.8 million tons in 2007-08, data from the association show.
Futures slumped to a two-year low in New York this month as dry weather helped accelerate cane crushing in Brazil, the world's biggest producer, and a rebound in monsoon rains improved crop prospects in India, the second-largest grower.
China Daily-Agencies
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