Sugar prices need to decline a further 3.8 percent to levels last seen in February to prompt fresh demand and shrink a fourth year of global surplus, said Mitr Phol Sugar Corp., Thailand’s top producer.
Futures have to drop as low as 16 cents a pound in New York, Executive Vice President Parin Amatyakul said. That compares with 16.64 cents yesterday. Sweetener from Thailand, the world’s second-biggest exporter, is being offered at a discount to futures for the first time since 2009 because of the prolonged glut, he said in an interview on July 30.
Jul 31, 2014
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