News International Sugar Journal

Malaysia’s buying intention triggers bullish sentiment from sugar dealers [Registered]

International sugar dealers reported a pick-up in physicals demand in Asia on 19th October and noted indications of possible further buying ahead by Malaysia, which could lend additional support to prices. Malaysia, which consumes about 1.3m tonnes of sugar a year, is looking to buy a total of 3m tonnes of raw sugar at a fixed price starting in 2012. Malaysia normally signs long-term contracts every three years to rebuild stocks and meet domestic demand. Dealers said demand had started to pick up in Asia on worries that futures prices could rise and floods in Thailand might affect shipments. The…

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