Gold Drops to $1,200/oz for First Time Since June in New York
Brazil to Produce Record Sugar Crop Next Year, Sugar Organization Says
Sugar production in Brazil and India, the top two producers, looks promising in the year starting October, with a possible record crop from South America, the International Sugar Organization said today.
Brazil, the largest grower, may have a record crop of about 41 million metric tons in the 2010-2011 year, compared with 36 million tons in the current year, Peter Baron, ISO’s executive director, said in an interview in Indonesia.
India may produce about 26 million tons next year and export about 500,000 tons, Baron said.
Production in China will probably increase by 20 percent to 15 million tons, Baron said. Still, the country may need to import as much as 2 million tons next season, he said.
“We may start to see price pressure in October, but it’s not a dramatic pressure,” Baron said before the 16th Asia International Sugar Conference that starts in Bali, Indonesia tomorrow.
To contact the reporter on this story: Supunnabul Suwannakij in Bangkok at email@example.com