Global surplus of sugar will maintain the low price trends
Sugar
India
Jose Salman
Published Oct 2, 2020
The upcoming worldwide cane and beet harvest, coupled with demand uncertainty, will underpin the emergence of a small global sugar surplus in the 2020/21 season.
With Europe, the US, and India about to embark on their respective harvests, and Australia and Brazil wrapping up their seasons, the 2019/20 sugar deficit projection points to a well-supplied market - and suggests raw sugar prices will continue trading in a US$ 0.11/lb to US$ 0.13/lb range.
Demand during the coming months, if and when pandemic-driven sugar consumption declines appear in trade, would also impact the short-term outlook for sugar.
Australian weekly crushing totals were exceeding 1.5 million metric tonnes, matching the peak volumes of previous seasons.
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