In­dian ex­ports add to global sugar glut

Maritime Gateway - - Commodities And Cargoes -

Agiant sugar crop from In­dia this year will more than com­pen­sate for the low­est out­put in a decade from cen­tral Brazil, millers and traders said, putting the mar­ket on course for two years of record global over­sup­ply. The world­wide sugar glut has made sugar the worst per­form­ing com­mod­ity of the year. Raw sugar futures are down nearly 25 per cent to date in 2018, and have fallen be­low pro­duc­tion costs for many of the world’s millers and pro­ces­sors. Prices are near their low­est lev­els since 2015. In­dia has out­per­formed mar­ket ex­pec­ta­tions in the 2017-2018 crop year, and next year may see the world’s sec­ond-largest pro­ducer grow a record sugar crop.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.