Thai sugar heads to NY bourse | Bangkok Post: business

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Thai sugar heads to NY bourse

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Traders may ship raw Thai sugar equivalent to 16% of the global surplus against October contracts on the ICE Futures US exchange, the first deliveries since 2012. 

About 625,000 metric tonnes of the unrefined sweetener will be delivered when futures expire, according to the median of six estimates in a Bloomberg survey of analysts and traders. The forecasts, from companies including Green Pool Commodity Specialists and UBS AG, ranged from 300,000 tonnes to 2 million tonnes. The global surplus will be 4 million tonnes this crop year, according to the International Sugar Organization.

Workers harvest sugar cane in a field in Phetchaburi province. Traders may ship raw Thai sugar equivalent to 16% of the global surplus against October contracts on the ICE Futures US exchange, the first deliveries since 2012.(Bangkok Post photo)

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