SUGAR UPDATE : A good monsoon this season has raised prospects of higher output for fourth consecutive year in a row in 2013-14. According to the latest estimates by Indian Sugar Mills Association, the total production of the sweetener is estimated at 25 million tons for 2013-14 season. The ending stock, according to the sugar body, as on Oct 1, is around 8.6 million tons, 2.6 million tons more than the normal opening balance. Global sugar output is also set to go up. The increase in output is primarily from India, Thailand, Philippines and Pakistan. Thailand, the second largest exporter of the sweetener after Brazil, will see its output rising to a record 11 million tons, higher from previous forecast of 10.8 million, according to International Sugar Organization (ISO). Overall Indian Sugar prices to remain under pressure. However, the short term bounce can be expected on back of retail demand before festive season.
Posted on: Wed, 09 Oct 2013 05:46:12 +0000
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