The world’s largest sugar trader expects a sixth straight year of deficits in the coming season as a poor outlook for India’s crops is set to drive down global stockpiles of the sweetener.
“The world will be as close to running out of sugar as it can be,” said Mauro Virgino, trading intelligence lead at Alvean, a trading house controlled by Brazilian producer Copersucar SA.
Alvean also expects difficulties in Thailand, another key exporter, as higher profits from growing cassava continue to drive farmers away from sugar cane. The tightness in supplies is set to shrink inventories even further, according to Virgino, bringing a measure of stockpiles-to-consumption down to levels similar to 2011. At that time, raw sugar futures surged to a three-decade high.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canadian women's 8 rowing team looks to begin Olympic title defence at worldsWhen the Canadian women's eight rowing team takes to the water in Serbia at the world championships this week for the opportunity to qualify a boat for its Olympic gold-medal title defence, the squad will look markedly different from the one that crossed the finish line first in Tokyo.
Read more »
Climate change, trade ties top agenda as Trudeau attends summits in AsiaCanada has its eyes on Asia and the lucrative trade markets in the Indo\u002DPacific region as Justin Trudeau heads to the region for a week.
Read more »
Climate change, trade ties top agenda as Trudeau attends summits in AsiaCanada has its eyes on Asia and the lucrative trade markets in the Indo\u002DPacific region as Justin Trudeau heads to the region for a week.
Read more »
U.S. rolls past Italy 100-63 to advance to FIBA World Cup semi-finalsThe win ensures the 15th top-four finish for the Americans in 19 World Cups
Read more »