Green Pool raises 2019/20 global sugar deficit forecasthttps://news.yahoo.com/green-pool-raises-2019-20-130919571.html
August 02, 2019 at 9:00 AM
Analyst Green Pool has raised its forecast for an anticipated global sugar deficit in the 2019/20 season to 3.67 million tonnes, raw value, from a previous projection of 1.62 million.
The Australia-based analyst said on Friday that the main changes to its balance sheet were reductions in crop forecasts for Centre-South Brazil and India.
Sugar production in the Centre-South region of Brazil was projected at 25.8 million tonnes, tel quel, down from a previous forecast of 26.8 million.
"Add to that the reduction in India’s crop prospects, dry conditions in Thailand, the EU, Australia and Mexico, and suddenly there are a number of negative factors for global sugar production prospects," Green Pool said.
India's 2019/20 crop was cut to 28.3 million tonnes from 29.5 million, tel quel.
"The market is only slowly working its way through very large stocks, and a small-ish deficit for 19/20 – while a step in the right direction from a producers' perspective – probably needs to be larger to cause prices to move back to longer-term average levels," the analyst said.
Green Pool estimated there was a global surplus of 18.87 million tonnes, raw value, in 2017/18 and 3.75 million tonnes in 2018/19.
August 2, 2019
Analyst Green Pool has raised its forecast for an anticipated global sugar deficit in the 2019/20 season to 3.67 million tonnes, raw value, from a previous projection of 1.62 million.Read More
June 12, 2019
Global sugar deficit will be 1.62 mln tons in 2019/20, smaller than previously forecast, as consumption growth slows, researcher Green Pool Commodity Specialists said in a report.Read More
February 1, 2019
The world sugar market is on course for a shortfall of 1.36 million tonnes (raw value), analyst Green Pool said on Friday in its first forecast for the 2019/20 season.Read More
February 1, 2019
World sugar production will fall behind consumption in 2019-20 for the first time in three seasons, and by the most in four, Green Pool said, terming the forecast a “positive for the market”.Read More
November 29, 2018
Analyst Green Pool said on Wednesday it had raised its forecast for an anticipated global sugar surplus in the 2018/19 season to 3.60 million tonnes, raw value, from a previous projection of 3.22 million.Read More
August 30, 2018
Green Pool, highlighting India’s soaring sugar supplies, cautioned over the potential for prices of the sweetener to remain “low-ish”, even as it cut its forecast for output in many other producing countries.Read More
August 12, 2018
Changing consumer tastes raises the possibility of a long-term reduction in demand even as the world’s largest producers are notching record production. Green Pool Commodity Specialists, a consultancy, projects a 19 million-ton surplus this year, the largest ever.Read More
July 9, 2018
Surging ethanol stockpiles and tumbling prices for the biofuel risk bringing back more sugar production in top grower Brazil. “Prices have been coming down, ethanol stocks are building. Demand is strong but is probably not sufficient to clear the stocks,” said Tom McNeill, a director at Brisbane, Australia-based researcher Green Pool Commodity Specialists. “I think this assumption that everyone has made that maximum ethanol is absolutely locked in could be challenged within the next three months.”Read More
May 4, 2018
July raw sugar settled down 0.06 cent, or 0.5 percent, at 11.69 cents per lb. Focus remained on a global supply glut, with commodity analyst Green Pool forecasting a combined sugar surplus of almost 25 million tonnes for the 2017-18 and 2018-19 seasons.Read More