Rabobank: Raw Sugar Price to Fall to 21.30 US Cents/pound

By CnAgri2012-07-02 13:46:10 Print

According to the recent report of Rabobank, most producing countries shall see surplus sugar supply for the third year in a row in 2012/13 which shall start from October. The global surplus shall be 4.6 million tons, less than the amount of 8.1 million tons in the current year, but higher than the 1.7 million tons in last year.

The global sugar production shall shrink by 0.9% to 177.6 million tons in 2012/13, the consumption shall grow by 1.5% to 169.5 million tons.

In this regard, the bank lowered the average price for raw sugar from 22 to 21.3 US cents/pound in the year.

From "China Sugar Market Monthly Report"