• Submitted by: Luis Manuel Mazorra
• Business and Economy
• 02 / 20 / 2012

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Cubazucar reported Saturday that in the week ending had good results the changes in sugar prices, having won six points in New York at 24.59 cents a pound. During this time he made purchases of final destinations of this product with delivery date for the month of March.
The market is characterized in that interval by hedge funds and a strong speculation, which influenced the prices would range in a range between 23.07 and 24.84 cents per unit.

Sales by producers prevented a further advance in prices, the company also stated Cubazucar, under the Ministry of Foreign Trade and Investment (MINCEX).

However, in the London market the refined sugar or white closed at $ 653.30 per metric ton (mt), then yielding $ 6.30 in the period.

It was learned that Indonesia will import 240 000 tonnes of unrefined sucrose this year, to process and supply the domestic demand for refined.

The Ministry of Agriculture of that country reported that domestic production during January-May 598 000 would be 578 mt, which assumes a deficit of 261 000 422 mt.

The Philippines reported that 761 produced some 967,000 tonnes of raw sucrose, from 15 January.

According to the Sugar Regulatory Administration (SRA) of that country, the figure represents 44 percent of the total volume estimated for 2011/12.

Official sources said that Thailand exported 6.68 million tons of the sweetener in 2011, marking a record for that nation.

The sales volume exceeded that achieved in 2010, 4.42 million tons, and was the result of increased production and demand.

Is expected to surpass Thailand in 2012 sales, as demand remains high sucrose in the main destinations, among them Indonesia, Japan and South Korea.

In connection with that country also learned that the government and Cane Sugar Corporation of Thailand next week will auction 57 000 333 tonnes of raw sugar for the season 2012/2013.

This tonnage, 43 000 333 tm corresponding to Japanese specifications sucrose, while the remaining volume is high polarization.

For China, the group Morgan Stanley reported that the sugar deficit this nation will rise in the coming season, due to higher growth in demand over supply.

Sweetener consumption in that country exceed production by 2.5 million tonnes in 2012/13 season, up from 2.3 million tonnes for the period 2011/12.