Estimate of world sugar production as of late June 2010

摘要

Global sugar prices rose until early February 2010. Raw sugar futures in New York hit a 29-year high at 30.40 cents/lb on February 1, and some were already zooming in on price levels of 40 and 50 cents/lb or even loftier levels just four months ago. However, prices experienced an unprecedented downward correction since then and fell 57% up to an intraday low of 13.00 cents/lb by May 7. White sugar futures in London reached $421.20 per tonne the same day, the lowest level for the front month since September '09 and 45% below the January 21 peak of $767.00 per tonne. Prices are now hovering around 15-16 cents/lb and $500 per tonne, respectively.