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The global sugar market is set to return to a deficit of around 5mt in the 2019/20 season having spent the last two seasons in surplus. The change has been driven by lower YoY output from the likes of India, Thailand, the EU and Central-South Brazil. Declines in India, Thailand and the EU have been driven by a combination of poor weather and lower planted area. In CS Brazil, the reduction is driven by the fact that mills in the region continue to