Sugar Prices Under Pressure as Production Rises India’s 2017/18 sugar production totaled 6.94 MMT as of 15 December 2017, up 5.346 MMT (29.81 percent) versus the same date last year. The sugar manufacturing/cane crushing was delayed in 2016, and it began this year on 1 October. With higher sugar production of 25.1 MMT expected against last year’s 20.3 MMT, according to the Indian Sugar Manufacturers Association (ISMA), prices continue to slide lower. There is also a panic sale by mills in Maharashtra. While the spot price is close to $500/MT, they are selling sugar at $450/MT, a discount of almost 10 percent that is helping to drive prices down.
Per ISMA, production in Maharashtra totaled 2.55 MMT as of 15 December, up 47.82...
What You Need to Know Today: Oil prices surged today following reports of tanker attacks off the coast of Saudi Arabia by Houthi rebels and renewed U.S. threats to escalate military strikes against Iran, heightening concerns over potential disruptions to Middle East energy supplies. Brent crud...
Key Takeaways: The latest UN data shows solid progress reducing global hunger and food insecurity. The geography of hunger-affected people has shifted substantially, however, and Africa is now the most affected region. To understand why hunger patterns have shifted and what policy option...
USDA’s monthly cattle on feed report for 1 July will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 102.2 percent of last year. Those estimates imply an on-feed inventory of 11.327 million head. If accurate, that would be the...