Sugar Market Eyes Curbs From India After Lower Monsoon Rains

The global sugar market has been jittery for weeks on concerns that poor rains will crimp output and prompt India to restrict shipments to contain local prices ahead of an election next year. The nation’s food secretary is confident about the crop, but traders, analysts and millers say curbs are coming.

Overall, India’s cumulative monsoon rainfall was 6% below normal as of Sept. 28, according to the nation’s weather bureau, but the shortfall has been even bigger in some regions. Parts of Maharashtra have seen about 14% less rain, while in some areas of Karnataka, it’s been 27% lower. According to a Bloomberg survey of 13 analysts, traders and millers, most said India may not export any sugar in the new season starting Oct. 1 due to lower output. Two respondents said shipments could total at least 2 million tons.

India’s domestic sugar prices have gained about 5% so far this year, according to data compiled by the food ministry. The government indirectly controls costs as it regulates the volume millers can sell each month.

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Brooklyn’s Domino Sugar Refinery Reopens as Offices in Tough MarketBrooklyn’s former Domino Sugar Refinery is reopening as an office hub, seeking tenants at a time when demand for workspace has faltered across New York City.
Fonte: BNNBloomberg - 🏆 83. / 50 Consulte Mais informação »

Hong Kong Finance Chief Hints at Easing Property Market CurbsHong Kong’s government is “constantly reviewing” the property market environment with a pragmatic attitude, Financial Secretary Paul Chan said in the latest hint at potentially easing curbs.
Fonte: BNNBloomberg - 🏆 83. / 50 Consulte Mais informação »

NG Energy Eyes 20% Share of Colombia Gas Market as Output RisesNG Energy International Corp. expects an eight-fold boost in its natural gas output in Colombia after a new field begins production next year.
Fonte: BNNBloomberg - 🏆 83. / 50 Consulte Mais informação »

Market mind: Dollar glimmers in broad market gloomGerman and Spanish inflation data and European consumer confidence data due today seem unlikely to pierce the gloom that's enveloped markets in recent days. Oil's spike to one-year highs has poured fuel on selling in the bond market and further pumped up the dollar, while global stocks have dropped for nine sessions in a row. The greenback stands at a 10-month high against a basket of other majors, and 10-year Treasury yields are hovering at a 16-year peak.
Fonte: YahooFinanceCA - 🏆 47. / 63 Consulte Mais informação »

Market mind: Dollar glimmers in broad market gloomA look at the day ahead in European and global markets from Tom Westbrook German and Spanish inflation data and European consumer confidence data due today ...
Fonte: SaltWire Network - 🏆 45. / 63 Consulte Mais informação »