Lausanne, Switzerland (GenevaLunch) – Sugar stocks may increase in the 2010-11 season if the sugar harvest in Brazil is not spoiled by rains in April, Jonathan Kingsman told the Dubai Sugar Conference 9 February. It is nevertheless unlikely to meet demand. The conference is organized by Lausanne-based Kingsman SA, an international sugar consultancy and brokerage.
World stocks have been depleted by two years of shortages. World sugar demand significantly outstripped supply in fiscal 2009, which ends in March 2010, pushing up the price of the white crystal and eating into world stocks. The price of white sugar rose 9 February for a second day in London trading on speculation that shortages will continue, reports Bloomberg. The price reached almost $724 for a metric ton (mt).
In 2009, too much rain in Brazil, the world’s largest producer, and poor rains in India, the world’s largest consumer nation, caused supplies to plunge. Brazil is forecast to produce 33.8 million mt in 2010-2011, up 5.4 mt, according to Kingsman. But adverse weather could threaten that forecast.
Background: “Sugar shortage gives India a sweet tooth ache“, 11 September 2009, GenevaLunch
Links to other sites: Bloomberg, Dubai Sugar Conference, Gulf News, Khaleej Times, Kingsman SA
This work by genevalunch.com is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.
News story, GenevaLunch, 9 February 2010.
Filed under: Business
Tags: Brazil, Dubai Sugar Conference, India, Jonathon Kingsman