Kingsman Sees White-Sugar Exports Tumbling on Indian, Thai Crops
- Export availability to decline by at least 3.5 million tons
- Drop in shipments seen as bullish for white premium: Covrig
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Poor crops in Asia will tighten the global white-sugar market this season, helping maintain the premium that London futures command over New York in a bullish trend, according to researcher Kingsman.
Export availability will fall by 3.5 million to 4 million metric tons in the 2016-17 season that started this month in most countries, Claudiu Covrig, a senior analyst at the unit of S&P Global Platts, said in an interview at a company event in London. The decrease in supplies will support the so-called white-sugar premium, which has traded above the 5-year average for most of the first half of 2016.