Features International Sugar Journal

Monthly Snapshot January [Full subscriber]

Market Overview There should be little doubt that the raw sugar futures (basis March 2017 contract) price drop of 17% from the peak of some USc23.0/lb in September ’16 to USc19/lb was fund-led. The fund net long position has contracted by almost 50% since the end of September, due largely to profit taking. As far as the fundamentals go, global sugar deficit is forecast for 2016/17. In their latest quarterly report, Rabobank forecasts (Oct-Sep) deficit at 5.5 mln tonnes. The following year will probably see return to balanced market or even a surplus, according to industry analysts. High prices have…

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