Sugar demand is expected to grow by 1.5% in 2009, half the 3% that it grew by in 2008.
The main reason for the decrease in demand, according to a report by F.O. Litch, is the slowdown in the global economy and declining production in India and Brazil.
It is expected that the price of raw sugar will rise and reach 16 cents per pound, marking an increase of 19% over the current price.