|Day's Range||11.43 - 12.12|
A global sugar deficit of 6.7 million tonnes is seen developing in 2019/20, following a 401,000-tonne surplus in the previous season, Luca Meierhofer, head of global cash trading at Louis Dreyfus Company, said in a presentation on Wednesday. Production in historic top-producer Brazil is seen rising only slightly in the season to 26.7 million tonnes, from 26.5 million tonnes in 2018/19, Meierhofer said at an event at New York Sugar Week.
Indian and Thai sugar production are expected to fall in the 2019/20 season, contributing to a global supply deficit, but large stockpiles in both countries are likely to continue to hang over the market, said Jeremy Austin, general director of Sucden Brazil. A global sugar deficit of 2.5 million tonnes is seen developing in 2019/20 after a small surplus in the previous year, Austin said in a presentation at an industry event at New York Sugar Week. Indian sugar production in 2019/20 is seen between 27 and 28 million tonnes, while Thai sugar production is seen at 13.5 million tonnes compared to 14.6 million tonnes in the previous year.
Declining sugar production from major Asian producers in 2019/20 is seen contributing to a global supply deficit for the year, broker INTL FCStone said on Tuesday. Production of white sugar in India, Asia's top producer, is seen falling to 28.6 million tonnes in 2019/20 from its record-large 2018/19 crop of 32.9 million tonnes, the broker said in a presentation at an industry event during New York Sugar Week. Thailand's production of raw sugar in 2019/20 is seen falling to 13.5 million tonnes from 14.8 million in the previous season, due to growing competition from more lucrative crops like cassava.
Indian sugar production in 2019/20 is expected to decline 8.4% from the record-large 2018/19 crop to 30.3 million tonnes, the U.S. Department of Agriculture attache in New Delhi said in a report. Output is expected to fall as the area under harvest contracts and the average sugar recovery rate declines, and as ethanol becomes an increasingly attractive option for cane mills, the attache said. Exports are expected to total 3.5 million tonnes in 2019/20, one million of which will be re-exports under the Advance Authorization Scheme (AAS) and the remaining 2.5 million of which will be commercial sales, according to the report.
NEW DELHI (Reuters) - Indian sugar mills have contracted to export 3 million tonnes of sugar since the current marketing season began on Oct. 1, a leading trade body said on Monday. Mills have already ...
World food prices rose some 1.5 percent in April, with a jump in dairy and meat prices helping offset a fall in cereal quotations, the United Nations food agency said on Thursday. The Food and Agriculture Organization (FAO) also issued its first forecast for global cereal production this year, seeing a record output for 2019 following a decline in 2018. FAO's food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 170.1 points last month against an upwardly revised 167.5 points in March.
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India's sugar production could rise 1.5 percent in 2018/19 to a record 33 million tonnes, increasing inventories in the world's second-biggest producer and putting pressure on local prices, a producers' body said on Friday. The record production could force New Delhi to continue incentives for overseas sales of sugar into the next season, weighing on global prices, which are now trading near their lowest in four months. In the first seven months of the 2018/19 marketing year that started on Oct. 1, mills have churned out 32.1 million tonnes of sugar, 3 percent more than in the same period a year earlier, the Indian Sugar Mills Association (ISMA) said in a statement.
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Trying to consume less sugar? About 75 percent of American adults are, according to a survey from the International Food Information Council. But that doesn’t mean they’re ready to give up sweet ...
It reported flat adjusted earnings per share of 61.1 pence for the 24 weeks to March 24 with a near wiping out of profit from its sugar operation offset by growth in its other businesses. Group revenue rose 1 percent to 7.53 billion pounds. The group had cautioned that sugar profit would be significantly lower this year, reflecting lower European Union prices for contracts negotiated at the end of the last financial year.
The world's biggest beverage makers, Coca-Cola and PepsiCo Inc, are responding to shifting consumer tastes by tweaking ingredients and experimenting with new flavors that are focused more on health conscious consumers. Chief Executive Officer James Quincey said Coke Zero Sugar sales witnessed a double-digit percentage rise, while its new orange-vanilla Coke soda was also a hit. Sales of carbonated drinks rose 1 percent, driven by strong performance of its Coke brand, while smaller, immediate consumption packages of its flavored water and sports drinks drove a 6 percent sales increase in the business.
Argentina will freeze prices on dozens of staple products, including rice, sugar and milk, in a bid to rein in rampant inflation and support hard-hit consumers ahead of national elections at the end of the year. The measures come after inflation sped up to 4.7 percent in March and was running at a 12-month rate of almost 55 percent, a trend that has sapped people's spending power and hammered President Mauricio Macri in the polls. Staples that will have their prices frozen include cooking oils, flour, yogurts, jams, biscuits and Yerba mate tea, a ubiquitous beverage in Argentina sipped through a metal straw.
NEW DELHI (Reuters) - Indian sugar mills have contracted to export 2.7 million tonnes of sugar since the current season began on Oct. 1, a leading trade body said on Thursday. Mills have already shipped ...
Commodities house Louis Dreyfus Company (LDC) announced a new chairman on Tuesday for its loss-making Brazilian sugar subsidiary Biosev, which has triggered other management changes at the group. Adrian Isman will take over as Chairman of Biosev with immediate effect, replacing Patrick Treuer who will remain on Biosev's board as vice-chairman while focusing on his role as LDC's Chief Strategy Officer, the group said.
Brazil's center-south region produced 26.500 million tonnes of sugar in the 2018/2019 crop, down from 36.060 million tonnes in the prior harvest, cane industry group Unica said on Tuesday. Mills in the ...
Brazil's center-south region produced 26,500 tonnes of sugar in the 2018/2019 crop, down from 36,060 tonnes in the prior harvest, cane industry group Unica said on Tuesday. Mills in the main cane belt ...