Buzz (Agri): Sugar surplus down by 56% in 2013-14--ISO

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Rajesh Desai

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Oct 23, 2013, 12:45:43 AM10/23/13
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Commodities Buzz (agri-commodities)
[October 23, 2013]
 Summary of Contents
 
 
COMMODITIES BUZZ (AGRI-COMMODITIES)

Sugar surplus down by 56% in 2013-14: ISO

Picks of the day: Buy wheat, CPO, menthe oil on dips; Sell maize, chana and cotton.

International Sugar Organization (ISO) forecast the decline of 56% in global sugar surplus to 4.5MMT from 10.3MMT in 2012-13. The global sugar production is also likely to fell by 2.1MMT to 180.8MMT in 2013-14(October-September) .ISO also states that global sugar surplus weigh on the prices but prices are unlikely to trade below 15 US cents per pound. The frosts in July crub the Brazilian output and patchy demand from Indonesia will also help rein in price losses. Moreover, Brazilian crushers may shift to ethanol for competitive gains.

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Regards,
The Sharekhan Research Team


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CA. Rajesh Desai
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