The latest report from Rabobank’s Food & Agribusiness Research division predicts a fourth consecutive global sugar supply surplus for 2013/14 of 5.4 million tons which will limit prices going into 2014. There is uncertainty out of Brazil and Russia. Wet weather in October or November, or an early end to the sugar harvest in Brazil could mean less sugar for export, and in Russia wet weather has slowed the beet harvest leaving questions about import requirements. In the U.S. prices will remain low with production expected to be 7.7 million tons for 2013/14 – 4.7% lower than the previous year but still the second highest since 2003/04, with a final surplus expected to be a historic 2 million tons. In the EU prices will remain high as quotas for sugar production are lifted but producers are protected by import barriers. To read more:
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