World sugar consumption is forecast to set a record of 171 million tonnes this marketing year, sas USDA in a semi-annual report. At that volume, it will nearly catch up with sugar production, which has peaked at 177.6 million tonnes two years ago, creating a huge surplus that drove down market prices. Production has trended downward since then and will barely exceed consumption at 172.5 million tonnes this this year, said the “Sugar: World Markets and Trade” report. The sugar inventory at the end of this marketing year is forecast for a burdensome 42.2 million tonnes, equal to a three-month supply.