World sugar market: Weather concerns underpin global sugar prices

摘要

Raw sugar in New York (NY) was trading at 31 cents/lb in mid-July 2011, while white sugar in London even reached an all-time intra-day peak at US$890.10 per t. Given forecasts that the market in 2012 would enter a period of protracted surpluses, prices began to slide in early June this year to plunge to levels not seen since the third quarter of 2010. On June 4, the raw sugar price in NY fell to below 19 cents/lb with white sugar in London bottoming out at around US$550 per t, representing declines of 39% over a period of twelve months.