Thailand’s sugar exports face price dip

sugar shipWith global sugar prices in February 2013 falling to their lowest level since August 2012, Thailand is increasingly facing pressure in its sugar exports.

By Mariana Angela Garcia

Thai raw sugar has been struggling to make sales in the market, specifically in the Japanese market. The good news for Thailand is that it was able to make some sales of white sugar to Pakistan on February 19 and Iraq earlier in the same month. Iraq was reported to have purchased 50,000 tonnes of Thai white sugar.

Global top sugar producer Brazil has kept prices under pressure so far, causing the dip.

Nick Penney, broker for Sucden Financial, a firm specialising on the sugar market, commented that traders are becoming sensitive to the availability of prompt or nearby sugars during the current inter-crop period in top producer Brazil.

“With availability of center-south Brazilian sugars at lower prices than during the season, traders may be looking to absorb Central American or even Thai sugar and attract them to the tape (expiry),” Penney said.

 



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With global sugar prices in February 2013 falling to their lowest level since August 2012, Thailand is increasingly facing pressure in its sugar exports. By Mariana Angela Garcia Thai raw sugar has been struggling to make sales in the market, specifically in the Japanese market. The good news for Thailand is that it was able to make some sales of white sugar to Pakistan on February 19 and Iraq earlier in the same month. Iraq was reported to have purchased 50,000 tonnes of Thai white sugar. Global top sugar producer Brazil has kept prices under pressure so far, causing the...

sugar shipWith global sugar prices in February 2013 falling to their lowest level since August 2012, Thailand is increasingly facing pressure in its sugar exports.

By Mariana Angela Garcia

Thai raw sugar has been struggling to make sales in the market, specifically in the Japanese market. The good news for Thailand is that it was able to make some sales of white sugar to Pakistan on February 19 and Iraq earlier in the same month. Iraq was reported to have purchased 50,000 tonnes of Thai white sugar.

Global top sugar producer Brazil has kept prices under pressure so far, causing the dip.

Nick Penney, broker for Sucden Financial, a firm specialising on the sugar market, commented that traders are becoming sensitive to the availability of prompt or nearby sugars during the current inter-crop period in top producer Brazil.

“With availability of center-south Brazilian sugars at lower prices than during the season, traders may be looking to absorb Central American or even Thai sugar and attract them to the tape (expiry),” Penney said.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

1 COMMENT

  1. Heven for trade ltd., private company in South Sudan.
    Our company deals white sugar and browne sugar. We have interest to buy from Thailand sugar brand’s

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