According to the International Sugar Organization, sugar supply is likely to go down this year as freek weather hits the globe.

Due to the shortage of sugar, its price would remain high.

Raw sugar traded in the New York futures market has gone up 86%. Due to bad weather in India, it is facing its worst drought in 83-years.

On the other hand, Brazil, world’s biggest sugar producer, also faces harvesting delay and crop damage.

In a press brief, government officials in India said that the sugar output of the country may fall to 15 million tones in the year ending September 30, 2009, which is 43% less then the last year’s output.

Analysts anticipated that India may import five million tones of sugar by 2010 to fulfill the domestic demand.

It is also said that India has imported 13, 900 tones of white sugar from Thailand, Asia’s biggest sugar exporter, for August shipment.

The report added that Thailand had sold some 62, 700 tones of sugar to India so far this year.

According to Thailand’s Office of the Cane and Sugar Board, the sugar output in the country is likely to go up to 7.6 million tones for the year starting December 2009