This action might not be possible to undo. Are you sure you want to continue?
The second revision of the world sugar balance in the 2010/11 (October/September) crop cycle by ISO puts world production at a record 168.045 mlntonnes, raw value, up 4.66% from the last season. Although ISO still expect a record high world sugar production, it has been revised downwards by 0.910 mlntonnes from their previous assessment in November, 2010. In contrast to output, world consumption has been revised marginally upwards and now is put at 167.849 mlntonnes. Consumption is expected to grow at 2.01%, slower than the 10-year average of 2.6%, due to historically high prices in both the world and domestic markets. After two seasons of large deficits, the stocks/consumption ratio had reduced to the lowest level for more than 20 years since 1989/90. The ratio is expected to decrease further to 35.04% in 2010/11 from 35.73% in the previous season of a large deficit. Despite the downward revision of world production, export availability still covers projected import demand. The absence of a physical trade deficit may act to cap prices for the rest of 2010/11 season. The world export availability is put at 50.496 mlntonnes exceeding import demand estimated at 50.309 mlntonnes.
A summary of the third assessment of the world sugar balance in 2010/11 is given in the table below.
World Sugar Balance
2010/11 Production Consumption Surplus / Deficit Import demand Export availability End Stocks Stocks/Consumption ratio in%
168.045 167.849 0.196 50.309 50.496 58.808 35.04
160.569 164.549 -3.980 53.393 53.023 58.799 35.73
Change in mln t
(mlntonne, raw value)
-3.084 -2.527 0.009
-5.78 -4.77 0.02
Source: ISO Quarterly Market Outlook, February 2011
4 billion liters in September's forecast. China's output is expected to be 11 million to 11. vice president of MitrPhol Sugar Corp.15 million tonnes forecast in September. about 63% of China's .7 million tonnes. up 14.6% from the previous season.AUSTRALIA'S SUGAR CROP FACES CYCLONE THREAT A massive cyclone threat to the crop in Australia adds further pressure to global prices for the sweetener that are hovering around 30 year highs around 33 cents per lb. cane crushing in Brazil was projected at 625 million tonnes. The China Sugar Association on Nov. down 4.2 million tonnes. up from the 38. Australia typically commands around 11% of the global raw sugar trade with most of its production shipped into growing Asian market such as Indonesia. down from 28. The Queensland Sugar Ltd expects the country to ship around 2. down from the initial forecast. still a record high but down from the 651.4 million tonnes of cane in 2010/11. Because of the dryness. 1 to be 7. In December. said ParinAmatyakul. 10 estimated Guangxi output in the crushing season that began in Nov.6 million tonnes. according to Conab's third and final estimate for the season.7 billion liters.000 tonnes after snow and frost this year damaged crops.9 kg per tonne.8 tonnes per hectare. Sugar content in cane stood at an average of 140.6% from the 2009/10 season. Mills directed more cane to sugar production rather than to ethanol production due to higher returns.5 million tonnes. Australia harvested 27. BRAZIL 10/11 SUGAR OUTPUT SEEN SLIGHTLY UP Brazil's sugar output in the 2010/11 season was revised slightly upward after exceptionally dry weather in 2010 raised sugar concentration in cane. well below expectations of at least a 33 million tonnes crop as rain disrupted harvesting. 2010 the QSL said it might have to buy sugar from other countries such as Brazil to honour contracts. Brazilian sugar exports in 2010/11 were estimated at 28 million tonnes. down from the previous season's 3. Sugar production was estimated at 38. CHINA SUGAR PRODUCTION MAY FALL Sugar output in China may decline by as much as 300.5 million tonnes forecast in September. Ethanol production was estimated at 27.4 million tonnes of raw sugar in 2010/11. Brazil's 2010/11 average yields were estimated at 77.
3% from a year earlier. In September. unlike quota sugar. Out-of-quota sugar refers to excess sugar produced above EU national quotas. which it announced in November but subsequently delayed. The European Commission said it would open an autonomous import quota for sugar from any non-EU country. India and Australia. . will be processed into refined sugar and sold to Indonesia's food and beverage industry. Japan now estimates sugar imports for the current sugar year at 1. The Commission's plans to approve the sale of EU out-of-quota sugar on the domestic market appeared to confirm the reversal of its decision to export 350.372 million tonnes.total of 12 million tonnes.43 million tonnes of raw sugar for 2011. an increase of 5% from 2010. it does not benefit from a guaranteed EU minimum sale price.000 tonnes. The raw sugar.372 million tonnes on a refined basis. which could come from Thailand. If annual imports were at 1. Major foreign sugar suppliers to Japan are Thailand.43 MLN T RAW SUGAR Indonesia has issued permits to import 2. which is often sold on world markets as. sugar imports in 2010/2011 were estimated at 1. EU EYES SUGAR SALES. that would be the highest level since 2007/2008. but there were no details on the total volume of the quota or any tariffs that may apply. INDONESIA PERMITS TO IMPORT 2. Australia and South Africa. JAPAN RAISES 2010/11 SUGAR IMPORT ESTIMATE Japan has revised up its sugar import estimate for the year to September 2011 from three months ago as local sugar beet output fell more than expected.265 million tonnes. up 10. IMPORTS TO CURB SHORTAGE EU would approve extra sugar imports and the sale of out-of-quota sugar on the EU market to address an expected supply shortage and to curb rising prices.
Russia. Sugar crushing in Thailand. up 10%. Sugarcane yields are as high as 110 kilograms a tonne.000 TONNES The Cane & Sugar Board may revise its output forecast for the crop year ending Sept. Currently.94 million tonnes of raw sugar in JanuaryOctober last year. Kazakhstan and Belarus may cut import tariffs for raw cane sugar to $50 per tonne from March following a drop in domestic beet sugar production due to a drought. Cool weather is aiding harvesting and the crop quality also looks good. up 59. the world's third-largest sugar buyer. .9 million tonnes. Brazil. the largest exporter after Brazil. imported 1. the tariff is $140 per tonne.1 million hectares this year from about 1 million hectares in 2009/10. THAILAND SUGAR ESTIMATE SEEN RISING BY 100. Cuba and Thailand are the main raw sugar suppliers. Area under cane plantation also increased to 1. began in end-November and will likely continue until May.RUSSIA MAY CUT RAW SUGAR IMPORT TARIFF FROM MARCH The customs union of Russia. unchanged from October 2010. 30 to around 7 million tonnes from an earlier estimate of 6.7% year-on-year.