France raises sugar beet crop estimates

France's farm ministry on Tuesday raised its forecast for sugar beet production for the second month in a row.

It is reported by Nasdaq.

For sugar beet, for which the harvest is also in full swing, the ministry pegged output at 31.29 million tons, up from 31.21 million estimated last month. That was now just 0.7% below last year's volume but still 7.9% lower than the five-year average as a high yield this year would not compensate for a drop in area.

The ministry noted that first beet harvest results showed low sugar content.