Wednesday, October 08, 2014

ISO will review balance of supply and demand of sugar in 2014/15

The international sugar Organization (ISO, the acronym in English) provides its first revision to disclose balance of demand and world crop supply 2014/3:0 pm mid-November. In August, the organisation predicted a global surplus of 1.31 million tons of the commodity in the cycle starts on the 1st of October of this year, due to a worldwide production of 183.75 million tons and consumption 182.45 million tons. Between the estimates reported so far by major global consultancies about the 2014/15, the cycle of ISO's which provides the greatest leftover sugar.
After the ISO, the higher surplus is predicted by economic research agency of Australia (Alaris) of 1.20 million tons. Already among the deficit projections, the consultancy Kingsman is who leads, with smaller production forecast that demand on 2.09 million tons.
Citing data from ANZ Bank, the ISO report released today says that the prediction is better prospects for sugar futures market, than cotton and cereals. "The forecast for the Bank's share price on the New York Stock Exchange is a recovery to about 19 cents per pound in the first three months of 2015," said the report from ISO.
In September, the international prices of raw sugar show two distinct phases. The first three weeks of the month were characterized by a considerable fall in world prices in the face of continued pressure bassist of a wide range of short term. The indicator for raw sugar (ISA Daily Price) began on September 17.23 cents per pound, but was reduced to 15.18 cents in September 19. On the same day, the first contracts of raw sugar on the New York Stock Exchange (maturity October) stood at 13.50 cents, the lowest price since April 23, 2009.
Further, monthly prices showed a partial recovery and ISA Daily Price ended the month at 16.21 cents per pound, result of a monthly average of 16.02 cents, falling from 7% in relation to the registered in the previous month.
Valor Economico
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