Sugar prices likely to rise as global production goes into deficit
Commodity Online | February 12 2019
UPDATED 11:02:25 IST

India Crude Oil production declines 4.15% in FY19

Crude Oil prices to average $66 a barrel in 2019: World Bank

US Crude Oil output up slightly last week: EIA

Govt procures 55.17 lakh tonne of Wheat in 2019

India Edible Oil imports may rise to 15.4 MT in 2018-19: report

Global sugar prices likely to rise this year as world sugar balance was seen switching to a deficit of 1.90 million tonnes in 2019/20 compared with a surplus of 2.55 million in 2018/19, according to a survey by Reuters.

Raw sugar prices were expected to end the year at 14.60 cents per lb, up 15% from Friday's close, according to the median forecast of responses.

The shift was partly driven by a forecast fall in India's production to 29.50 million tonnes in 2019/20 from 32.00 million in 2018/19, according to the poll.

Depressed sugar prices have led Brazilian companies to increase their capacity to produce ethanol, with many mills able to switch between using cane to produce either sugar or biofuel ethanol depending on which is more profitable.

White sugar prices were expected to end the year at $391.50 per tonne, up 17 percent from Friday's close.

 

Commodity Arrivals Rate
Mustard Oil 50 9300.00
Coconut Oil 1 17500.00
Arecanut 0.57 22000.00
Sugar 0.4 4000.00

More

×