El Nino set to generate first global sugar supply deficit in 6 years
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London
AN El Nino weather pattern damaging sugar crops may mean global demand will outstrip production to a greater extent than expected in the upcoming season, hastening a rebound in prices from a 61/2-year low hit last month.
Drought has begun to threaten production in No 2 exporter Thailand and top consumer India as weather bureaux confirm the return of the phenomenon which can lead to scorching weather across Asia and heavy rains and floods in South America.
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