Earlier this month, Australia and Brazil dragged India to the WTO for its market-distorting policies on sugar. Their contention was that the subsidies, including the extent of farmer assistance, far exceeded the norms set by the WTO resulting in higher sugar production/exports which dampen the international prices and, consequently, hurt their domestic producers. This is… Read More »
Sugar prices at the Vashi market rose by ?15-20 for the fine variety on Monday in improved demand. On Saturday 18-20 mills sold 38,000- 40,000 bags at ?3,100- 3,160 a quintal of S-grade and ?3,130-3,180 of M-grade. Bombay Sugar erchants Association spot rates: S-grade ?3,222-3,292 and M-grade ?3,276- 3,370. Naka delivery rates: S-grade ?3,210-3,240 and M-grade ?3,230-3,290.
Brazil’s Copersucar, the world’s largest sugar merchant, expects global sugar trade flow to reach an equilibrium between supply and demand in the second half of 2019, which could lead to a price recovery for the sweetener. According to the company’s strategy director Tomas Caetano Manzano lower sugar production in some of the main producers such… Read More »
Pakistan has taken a lead over India by winning a 300,000-tonne sugar export quota from China, according to traders. India has been waiting since long to bag the export quota from China. “We are waiting to get sugar export quota to China, which is a huge market,” said Prakash Naiknavare, managing director of the National Federation… Read More »
Brazilian mills are expected to cut cane allocation for sugar production in the 2019/20 crop, diverting more cane to ethanol output, amid low sugar prices and strong local demand for the biofuel, Canaplan consultancy said on Thursday. Canaplan’s chief analyst Caio Carvalho said during a presentation at a sugar conference in Piracicaba that he had… Read More »