09 November 2011 17:51 [Source: ICIS news]
BARCELONA (ICIS)--Global sugar production may rise by 8.4m tonnes/year to a total of just over 173m tonnes/year in 2011/2012, driven by population and demand growth, but sugar prices are still likely to remain high, said senior commodity analyst at FO Lichts, Stefan Uhlenbrock, on Wednesday.
Uhlenbrock was speaking at the 14th Annual FO Lichts World Ethanol and Biofuels conference in ?xml:namespace>
Emerging economies such as
Good sugar crop prospects in
This is in contrast to
While sugar prices have come off the peaks of just over 36 cents/lb seen in February 2011, international sugar prices are still likely to remain high because of growing global food demand and the need to incentivise investment.
The latest world sugar price is trading around 26 cents/lb, according to Bloomberg data.
The world sugar price remains relatively high and in contrast to the low level of eight cents/lb seen in June 2007, said Uhlenbrock.
($1 = €0.72)
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