Sugar prices to remain volatile into 2013
FMCG SUPPLIER NEWS
ProcurementLeaders.com - Jan 27th, 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
Glass half full
22/05/2012 - 08:39
New York - Greek winemakers are not pricing their wares in drachmas - yet.
Tiger Brands ups first-half earnings
22/05/2012 - 08:31
Johannesburg - South African consumer goods firm Tiger Brands [JSE:TBS] posted a modest rise in first-half earnings on Tuesday, helped by growth in its exports and international businesses as the domestic market remains subdued.
Barloworld to acquire Bucyrus unit
21/05/2012 - 08:39
Brands management group Barloworld (BAW) issued a cautionary on Friday saying it was in negotiations with Caterpillar Global Mining LLC and some of its subsidiaries for the acquisition of the Bucyrus distribution businesses in certain of Barloworld's southern African Cat dealership territories.
Value earnings up in tough climate
17/05/2012 - 10:03
Regional logistics and supply chain services provider Value Group ’s diluted headline earnings per share rose 3,8%, from 58c to 60,2c in the year to February, which the company said was strong given market factors.
Transnet to cover part of expansion
17/05/2012 - 08:46
Parliament - Transnet will cover two-thirds of its R300bn infrastructure programme with "retained earnings", Public Enterprises Minister Malusi Gigaba said on Tuesday.
ZaPOP
