date:Dec 28, 2012
International sugar prices have been on a slow and steady decline over the last few months. The prospect of a second consecutive global sugar surplus projected for the 2012/13 international crop year is weighing on the market, confining New York raw sugar futures (NY No. 11) to a 19 c/lb to 22 c/lb range for much of the last four months.
Rabobank currently projects a surplus of 8.9 million tonnes, raw value, for 2011/12, and a surplus of 6.6 million tonnes, raw value, for 2012/13.
Andy Duff, R