Most sugar producing countries are projected to meet or exceed production expectations for 2012-2013.
According to a new report from Rabobank’s Food & Agribusiness Research and Advisory Team, the global sugar market has maintained its downward trend over the past several months. The report cites NY No. 11 prices reaching USc 16.21/lb, a three-year high. In addition, projections for most sugar producing countries have production meeting or exceeding expectations for the 2012-13 international crop year, and supply-demand balance features the largest surplus in 15 years. Rabobank predicts an additional surplus in 2013-14, making a near-time respite for sugar prices unlikely. For more information on the report, visit Rabobank’s website.
