Raw Sugar Prices Plunge
We haven't seen raw sugar prices this low since June 2006, as the sweetener dropped to over 7 percent to finish the session at 16.57 cents a pound.
Most of the ongoing fall in raw sugar prices has come from the supply coming out of India, where it increasingly looks like a bumber crop this year.
In February raw sugar had hit its highest levels in 29 years, but now has dropped 45 percent since that time.
Anyalysts say there is panic selling now with raw sugar as there are no clues as to when it'll bottom out.
Raw Sugar Prices Plunge
Showing posts with label Indian Sugar Industry. Show all posts
Showing posts with label Indian Sugar Industry. Show all posts
Wednesday, March 24, 2010
Wednesday, March 10, 2010
Commodities: Sugar Hits 7-month Low
Sugar Futures Down
After a number of defaults, sugar futures in the U.S. dropped to 7-month lows, as sugar mills in India backed out of deals to import 100,000 tons of sugar from the U.S.
This is the eight loss for sugar in the last ten sessions, making one wonder how low it'll go before it rebounds.
Today the sugar futures sold for below 20 cents a pound, falling to 18.82 a pound at its worst; the lowest sugar futures price since the early part of August 2009.
Sugar Futures Down
After a number of defaults, sugar futures in the U.S. dropped to 7-month lows, as sugar mills in India backed out of deals to import 100,000 tons of sugar from the U.S.
This is the eight loss for sugar in the last ten sessions, making one wonder how low it'll go before it rebounds.
Today the sugar futures sold for below 20 cents a pound, falling to 18.82 a pound at its worst; the lowest sugar futures price since the early part of August 2009.
Sugar Futures Down
Monday, February 22, 2010
India Major Agriculture Commodities Producer
India Agriculture Commodity Production
India has been quietly growing a strong position in agricultural commodities while China gets the majority of the attention because they're such a strong consumer of most commodities.
While some of the top commodities India produces aren't that used in the western world, other than bananas and lemons, they still are the world leader in the following: safflower, bees wax, goat milk, castorseed, mangoes, guavas and mangosteens, chickpea, pigeon pea, lemons, bananas and buffalo milk, among others.
Unless you think India is only the king of the secondary agricultural commodities in the world, they have held the No. 2 position with major crops like sugarcane, wheat, rice, onions, green peas, cauliflower and garlic. They have been 3rd in cashews, rapeseed, sorghum, linseed and tomatoes.
Although India has a lot more bureaucratic problems than China, and internal challenges they will have to work through, the agricultural production of the country is one of the more positive signs economically for them.
Figures above were primarily based on the production numbers of 2007.
India Agriculture Commodity Production
India has been quietly growing a strong position in agricultural commodities while China gets the majority of the attention because they're such a strong consumer of most commodities.
While some of the top commodities India produces aren't that used in the western world, other than bananas and lemons, they still are the world leader in the following: safflower, bees wax, goat milk, castorseed, mangoes, guavas and mangosteens, chickpea, pigeon pea, lemons, bananas and buffalo milk, among others.
Unless you think India is only the king of the secondary agricultural commodities in the world, they have held the No. 2 position with major crops like sugarcane, wheat, rice, onions, green peas, cauliflower and garlic. They have been 3rd in cashews, rapeseed, sorghum, linseed and tomatoes.
Although India has a lot more bureaucratic problems than China, and internal challenges they will have to work through, the agricultural production of the country is one of the more positive signs economically for them.
Figures above were primarily based on the production numbers of 2007.
India Agriculture Commodity Production
Tuesday, November 4, 2008
Commodities: Sugar Production in India Could Drop
Indian sugar prices drop as the commodity weakens in industry battle
A battle between sugar mills and sugarcane farmers could end up causing the Indian sugar industry about 25 percent in production, as the combatants await an Indian Supreme Court decision on pricing.
Farmers in Uttar Pradesh are starting to supply high-recovery sugarcane to jaggery units, threatening the sugar output in India this year.
With Indian farmers needing to turn sell their crop in order to plant their fields in wheat, pressure is on them to sell.
Sugarcane loses its sucrose (sweetener) content over a period of time, also pressuring farmers to sell quickly. Cane with lower sugar content isn't usable in sugar mills.
When Uttar Pradesh raised prices above the state advised price (SAP), it started the battle, as sugar mills in India argue they can't crush can profitably at those prices.
The two participants are awaiting a decision of the Supreme Court and Allahabad High Court. Until that time the commodity will struggle to maintain prices.
A battle between sugar mills and sugarcane farmers could end up causing the Indian sugar industry about 25 percent in production, as the combatants await an Indian Supreme Court decision on pricing.
Farmers in Uttar Pradesh are starting to supply high-recovery sugarcane to jaggery units, threatening the sugar output in India this year.
With Indian farmers needing to turn sell their crop in order to plant their fields in wheat, pressure is on them to sell.
Sugarcane loses its sucrose (sweetener) content over a period of time, also pressuring farmers to sell quickly. Cane with lower sugar content isn't usable in sugar mills.
When Uttar Pradesh raised prices above the state advised price (SAP), it started the battle, as sugar mills in India argue they can't crush can profitably at those prices.
The two participants are awaiting a decision of the Supreme Court and Allahabad High Court. Until that time the commodity will struggle to maintain prices.
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