Trade house eyes another surplus season
International trade house Bunge said world sugar production is set to outpace consumption for a fifth consecutive year in the 2014-2015 season to around 3.5 million mt, the firm’s sugar trading manager for Latin America said at a conference, Dow Jones reports. This could mean that sugar prices remain weak.
On the sidelines of the conference, the head of the International Sugar Organization told the Wall Street Journal that even though global consumption is growing at about 2% a year, demand may not catch up with production until at least 2016. He called for an information campaign to be directed at consumers worldwide as criticism of the sweetener ‘was getting out of hand’. The founder of Kingsman said that sugar should not be demonized but he noticed a shift towards healthier eating and a healthier lifestyle.