Advertise with fastmoving.co.za
 
 

Sugar prices to remain volatile into 2013
Sugar prices to remain volatile into 2013

Sugar prices to remain volatile into 2013

FMCG SUPPLIER NEWS

ProcurementLeaders.com - Jan 27th 2012, 09:28

Sugar prices are likely to remain volatile into 2013 according to the International Sugar Organisation (ISO) as global output matches demand.
 

The ISO is expecting a 4.5 million tonne surplus of sugar from the 2011-2012 harvest which ends on September 30th, but according to the organisation this will not be enough to rebuild global stockpiles, which have been increasingly used to meet growing demand as poor weather has hit global production.

Sergey Gudoshnikov, a senior economist at the ISO, told the CME group during a telephone interview that "The market will still operate with this low-stock environment [and have] the same price volatility that we have witnessed in the last 24 months."

He added that Brazil, the world's top sugar producer, was unlikely to see any increase in its levels of production, while demand from China would remain steady taking up any slack in supply.

 

Related News

Chinese spending hits record high on Singles' Day
13/11/2019 - 13:53
Chinese consumers spent a record amount on Alibaba platforms on Monday during the annual “Singles’ Day” buying spree, the world’s biggest 24-hour shopping event, which was launched with a glitzy show by US singer Taylor Swift.

How a US-China trade deal could benefit SA
11/11/2019 - 09:53
Africa is poised to become the “land of opportunity” for bond and equity investors should the US and China strike a trade deal, Bank of America (BofA) says.

Global wine output falls this year after bumper 2018
01/11/2019 - 11:17
Global wine production fell about 10% this year, with major producers France, Italy, and Spain hit the most by unfavourable weather conditions, according to a leading international body.

President Cyril Ramaphosa launches SA's first smartphone plant
21/10/2019 - 09:52
President Cyril Ramaphosa recently opened South Africa's first smartphone production plant at the Dube TradePort in Durban.

SA economy at risk of third-quarter contraction
11/10/2019 - 09:54
Dismal mining and manufacturing figures for August have raised the prospect of a third-quarter economic contraction.