Tridge summary
India will not increase its raw sugar export quota in the September season, contributing to a global supply shock that has driven raw sugar prices to their highest in a decade in over a decade. This is due to low reserves in Brazil, which is a major producer, and delayed supplies to Europe, Pakistan, Thailand, China, and Mexico. China has reduced its production estimate for 2022-2023 slightly to 9 million tons, and next year's crops are likely to be affected by a decline in sugarcane and beet acreage due to crop competition.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
According to Isna, India will not increase its export quota in the September season and other producers do not have strong stocks, and the price of raw sugar reached its highest level in a decade as the prospect of a global supply shock intensified. Prices in New York rose 1.9 percent on Wednesday after jumping 2.6 percent on Tuesday, according to Bloomberg. Brazil's reserves are very low, and a late start to harvest due to heavy rains has limited sugar production, and supplies to Europe, Pakistan, Thailand, China and Mexico are also being delayed. China is one of the countries that has lowered its supply outlook, and the government this week cut its ...
Source: Isna
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