The Business Times
business-time-50
SUBSCRIBERS

Sugar prices hovering near 6-year high amid concerns of supply dearth

google-preferred-sourceAdd BT as a preferred source
Uma Devi

Uma Devi

Published Wed, Mar 8, 2023 · 05:50 AM
    • Ethanol prices in India have also been on the rise, and this has encouraged the diversion of sugarcane for ethanol production rather than sweetener production.
    • Ethanol prices in India have also been on the rise, and this has encouraged the diversion of sugarcane for ethanol production rather than sweetener production. PHOTO: BLOOMBERG

    SUGAR futures have pared some gains since the commodity hit a six-year high of US$0.2209 per pound on Feb 27, but market watchers believe prices could remain high in the near-term. 

    Concerns over sugar supply globally have been the key trigger for the surge in the commodity’s prices.

    In India, the Indian Sugar Mills Association has revised downwards the expectations of the country’s production – to 34 million tonnes for the current season running from October 2022 to September 2023, from 36.5 million tonnes previously.

    Agriculture/FarmingIndiaSpotlight

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Electric vehicles and the changed dynamics of mainstream and luxury car segments mean Certificates of Entitlement should not be used to classify cars.

    Is it time to scrap COE categories for cars? 

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    Indonesian President Prabowo Subianto and Russian President Vladimir Putin met at the Kremlin in Moscow on April 13.

    As more Asean states turn to Russia for fuel, will Moscow boost its influence in the region?

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More