Sugar prices to remain volatile into 2013
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.
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