Sugar Output in Thailand to Reach Record, Boosting Exports

Commodities , Food Apr 27, 2011 No Comments

Sugar CaneRaw sugar for July delivery dropped 0.7 percent to 23.24 cents a pound on ICE Futures U.S. in New York yesterday. The most-active contract climbed to 36.08 cents a pound on Feb. 2, the highest level since 1980.

Sugar output in Thailand, the biggest exporter after Brazil, will exceed a forecast to reach a record after rainfall increased yields, boosting shipments to an all-time high, according to the Office of the Cane & Sugar Board.

Increased supplies from Thailand may pressure global prices that tumbled 36 percent since reaching a three-decade high in February as output climbs in Brazil and India, the world’s biggest producers. Sugar is the worst performer on the Standard & Poor’s GSCI Spot Index of 24 commodities this year, helping cool global food prices that the United Nations estimates fell in March from a record.

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via Sugar Output in Thailand to Reach Record, Boosting Exports – Bloomberg.com.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

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