Posted: April 27th, 2011 | Author: Rod Sherkin | Filed under: Commodities, Food | Tags: food, sugar | No Comments »
Raw 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.
Posted: November 23rd, 2013 | Author: Rod Sherkin | Filed under: Agricultural, Brazil, Sugar | Tags: sugar, sugar brazil, sugar future, sugar glut, sugar india, sugar ourput, sugar price, sugar surplus | No Comments »
After a temporary jump last month due to Copersucar‘s terminal facilities fire, the raw-sugar futures fell 0.6% Friday, their lowest level since Sept. 19, to end at 17.40 cents a pound on the ICE Futures U.S. exchange as dry weather allowed Brazilian mills to process plenty of cane, adding to a global glut.
Stockpiles will increase 0.5 percent to 43.379 million metric tons in the marketing period ending in 2014 for most countries from a year earlier, the U.S. Department of Agriculture said today in its November 2013 Sugar World Markets and Trade report . That topped a May forecast by 13 percent. Thailand’s output will climb to a record 10.9 million tons, up 9 percent from a year earlier and 3.8 percent more than estimated in May.
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Posted: August 29th, 2013 | Author: Rod Sherkin | Filed under: Rubber | Tags: natural rubber, natural rubber price, rubber, rubber price, rubber production | No Comments »
Benchmark Rubber prices in Tokyo have rallied 21 percent since the 2013 low in late June and were around 275.6 yen $2.84 per kilogram in Asian trade on Wednesday. The main contract on the Shanghai Futures Exchange has also rallied from its low in early July, gaining 21 percent to trade around 20,730 yuan $3,387 a tonne.
The worst may be over for Asian natural rubber prices as stronger economic growth in China and globally boosts demand for vehicle tires, but there are still risks to calling for a sustained price rally.
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Posted: June 17th, 2013 | Author: Pascal Blanc | Filed under: Commodities, Rubber | Tags: rubber, rubber glut, rubber price, rubber production | No Comments »
Rubber fell 21 percent to 238.9 yen on the Tokyo Commodity Exchange this year and is now 55 percent below the record 535.7 yen reached in February 2011. Lower prices should reduce costs for Bridgestone Corp., Michelin & Cie. and Goodyear Tire & Rubber Co., the biggest tiremakers.
The surplus will expand 57 percent to 490,000 metric tons this year, enough to meet U.S. demand for six months, according to RCMA Commodities Asia Group, the Singapore-based company that has traded rubber for nine decades. Futures in Tokyo, a global benchmark, will drop at least another 5.8 percent to 225 yen a kilogram ($2,369 a ton) by the end of December, according to the median of 16 analyst estimates compiled by Bloomberg. Five anticipate 200 yen, a price last seen in 2009.
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Posted: November 8th, 2012 | Author: Rod Sherkin | Filed under: Commodities, Food | Tags: sugar, sugar glut, sugar price, sugar production | No Comments »
Sugar will expand global supply already forecast by the International Sugar Organization to reach a record this season. Producers from Russia to Thailand raised output after prices averaged the most in three decades in 2011.
Futures fell 28 percent since March on prospects for a third straight annual surplus, helping to contain the surge in global food costs caused by droughts in the U.S., Europe and Australia.
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Posted: October 2nd, 2012 | Author: Rod Sherkin | Filed under: Rubber | Tags: china, indonesia, malaysia, rubber, rubber price, thailand | No Comments »
March-delivery rubber rose 4.6 percent to end at 272.5 yen a kilogram ($3,490 a metric ton) on the Tokyo Commodity Exchange, the highest settlement for the most active contract since May 30. Futures have gained 2.7 percent this year.
Rubber jumped to a four-month high, erasing this year’s losses, after the world’s largest producers began cutting exports by the most since 2009, reducing supplies.
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Posted: August 16th, 2012 | Author: Pascal Blanc | Filed under: Rubber | Tags: rubber | No Comments »
In 2008, during the financial crisis, the price of rubber lost 56%. Facing this situation, Thailand, Malaysia and Indonesia, representing about 70 percent of global natural-rubber supply, agreed to withdraw 690,000 tonnes from the market. Rubber price surged more than 100% the following year.
Rubber plunged 43 percent in the past year and reached its lowest level in almost three years as growth slowed in China, the top consumer, and Europe. At the Tokyo Stock Exchange Tuesday, January harvest was trading at 213,800 yen per tonne, the lowest price since October 2009. Same story at the Shanghai Stock Exchange, where January contracts were down to 21,150 yuan per tonne. Overall, rubber has lost nearly 27% of its value between March, its highest rate, and August.
So, after Indonesia indicated early July it was considering introducing a minimum price, Thailand, Indonesia and Malaysia today signed an agreement to reduce their rubber supply by 450,000 tons. Practically, 300,000 tons will not be exported this summer and 16,000 hectares of aging trees will be cut. If history repeats itself, this should give a major boost to rubber prices. Read the rest of Upward pressure on rubber price likely » » »
Posted: August 13th, 2012 | Author: Pascal Blanc | Filed under: Agricultural, Commodities, Food, Uncategorized | Tags: rice | No Comments »
Myanmar has decided to develop its rice production, following its neighbors steps. The government hopes to export 2 million tons of rice in 2013, and 3 million tons in 2015.
From 778,000 tons in 2011, the volumes available for export could double this year, according to estimates by the USDA.
According to the head of crop research at International Rice Research Institute, Myanmar has a perfect environment for growing rice in many areas, untapped potentials that could quickly make it a leading exporter.
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Posted: July 4th, 2012 | Author: Pascal Blanc | Filed under: Commodities, Rubber | Tags: rubber | 1 Comment »
Indonesia, the world’s second-largest natural rubber producer, is considering introducing a minimum price under an agreement with other major Southeast Asian producers Thailand and Malaysia, to avert a further decline in the commodity’s price in the crisis-hit global markets.
The three countries, whose natural rubber production accounts for 70 per cent of global output, might jointly limit exports and set an export quota for natural rubber which fell 25% in four months on the Tokyo Commodity Exchange (TOCOM).
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Posted: June 7th, 2012 | Author: Pascal Blanc | Filed under: Commodities, Food | Tags: rice | No Comments »
The 2012 rice harvest could be the best in history while global demand is softening, except in Africa.
The cultivated rice field areas have further increased this year in Asia. Consequently, world production will reach close to 490 million tonnes of white rice (according to the FAO), ten million tons more than last year, already an all-time record.
For the last 3 years, harvests kept getting bigger, and they will increase again in China, other major exporting countries like Thailand and Vietnam, but also among smaller suppliers: Pakistan, Cambodia, Burma, Australia. Only the american continent had a disappointing harvest: the United States and Brazil favoured more profitable soybeans.
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