Sugar exports to surge to record
- Published: 7 Oct 2013 at 19.34
- Online news:
Sugar shipments from Thailand, the world's largest exporter after Brazil, will probably climb 15% to a record next year as increased plantings boost output, the Office of the Cane and Sugar Board said.
Exports will reach 8.5 million metric tonnes in 2014 from an estimated 7.4 million this year, said Somsak Suwattiga, secretary general of the state-run board. Production will expand 10% to an all-time high of 11 million tonnes in the crushing season starting Nov 15 from the highest ever cane harvest of 110 million tonnes, he said.
Expanding Thai supplies will add to a global glut and potentially curb a 16% rally in futures in New York since tumbling to a three-year low in July. Global surplus will be 4.66 million tonnes in the 2013 to 2014 season as rising Asian output will more than compensate for a decline in Brazil's main growing region, according to Green Pool Commodity Specialists Pty.
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