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Sugar: High excess price rise in the way
Category: News commodity futures markets | commodities sector
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sugar
20.48 -2.85% more options
Frankfurt (BoerseGo.de) - sugar currently consolidates the gains on the fourth quotations October would be given a nine-week high at 21.77 U.S. cents per pound. Around 12:30 CEST clock sugar listed with a loss of 0.47 percent at 21.32 cents per pound.
The analysts F.O. Light anticipates that the global sugar production in the 2012/13 season remains unchanged. In previous years, respectively, an increase was achieved. This was also when the 2011 harvest in Brazil for the first time in ten years, shrank because other suppliers could make up for this, like writing, commodity analyst at Commerzbank in today's "Commodities Daily".
"In this season, according F.O. Light, however, offset gains in Brazil, Australia and China mainly by a decline in EU production. Given the high level of production also expects F.O. Light despite increasing demand remain at a high surplus in 2012/13, which should be an increase in prices in the way, "said Commerzbank analysts.
