Green Pool trims 2018/19 sugar surplus forecast
August 30, 2018 at 12:42 AM
LONDON, Aug 30 (Reuters) - Analyst Green Pool said on Thursday it had trimmed its forecast for an anticipated global sugar surplus in the 2018/19 season to 4.24 million tonnes, raw value, from a previous projection of 6.62 million.
"The major contributions to the drop in the 18/19 surplus estimate are the EU and CS (Centre-South) Brazil," the Australia-based analyst said in a report.
Green Pool put EU sugar output in 2018/19 at 17.7 million tonnes, white value, down from the prior season's 19.8 million.
"Ongoing hot, dry weather has now taken its toll on (EU) beet and sugar production prospects," the analyst said.
Sugar production in Centre-South Brazil was seen at 28.3 million tonnes in 2018/19, down from the previous season's 36.1 million.
"The very low mix devoted to sugar (rather than ethanol) is simply exceeding all historical norms, as millers pull out all stops to make the better paying hydrous ethanol," it said.
A huge crop in India, however, it set to keep the market in surplus with production seen at 33.5 million tonnes, tel quel, up from the prior season's already large 32.2 million.
Green Pool also raised its estimate for the global sugar surplus in 2017/18 to 19.9 million tonnes from a previous forecast of 19.6 million.
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