Global supply worries weaken, sugar prices fall slightly

June 7, 2011 Comprehensive foreign news agency reported that due to the market's concern about the global sugar supply for the next 11-12 year of sugar production, the price of ICE sugar market raw sugar futures fell across the board this week.

On the day of the 1107 issue, the price of sugar fell by 36 points (-1.5%) to close at 23.59 cents/lb. In the 1110 period, the price of sugar also fell by 36 points (-1.5%) and closed at 23.25 cents/lb.

At this point, international sugar prices have fallen by 35% since the impact of the 30-year high of 36.08 cents/lb in early February.

Czarnikow Sugar Company of the United Kingdom recently stated that due to sugar-producing countries responding to high sugar prices, it is estimated that the supply and demand of the 11-12 sugar-sugars market to be started in October this year will be less than 500,000 tons of sugar supply from this year. There was a surplus of 10.3 million tons. Global sugar production will increase by 14.2 million tons to 182.2 million tons, which will help consumer countries supplement sugar inventories.

Marius Sonnang, president of Soonan Sugar Company in New York, said that global sugar supply seems to be evolving in a loose direction. Although short-term supply may be tight, global supply shortage will not be due to huge production in Brazil. Complex existence.

A few days ago news from Thai Sugar Trading Company said that the number of sugars waiting to be shipped to international markets in Thailand's ports has reached 400,000 tons. According to data released by Brazilian port authorities, the number of sugars waiting to be shipped to overseas markets in Brazilian ports last week was about 2.25 million tons.

In addition, the price of sugar futures in the London Sugar Market continued to rise slightly this Monday as a result of strong demand from Muslim countries before the arrival of Ramadan and the possibility of lower than expected sugarcane production in Brazil's Central-Southern region this year. On the day of the 1108 session, the price of sugar rose by US$2.80/tonne (+0.4%) to US$696.20/tonne; the 1110 period saw approximately US$2.40/tonne (+0.4%) in the price of sugar, which was closed at US$639.00/ton. .

The closing prices of the two major international sugar markets were as follows (close price unit: ICE Sugar Market: US cents/lb; LIFFE Sugar Market: USD/ton):

ICE sugar market volatility range LIFFE sugar market ups and downs 1107 23.59-0.36 23.51-24.06 1108 696.20+2.80

1110 23.25-0.36 23.18-23.68 1110 639.00+2.40

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