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US sugar demand bounces sweetener in online investing
23rd April 2012
The USA may need another half a million tons of sugar importing this year, which has helped to reverse the sweetener's fall in online investing.
On Wednesday, the US Agriculture Department approved an increase of 450,000 tons because of a supply crunch in the States, but yesterday, sugar brokers in the country noted that another 400-to-500,000 tons will be needed to help satisfy demand.
Although the government won't formally call for extra imports until the summer, the Sweetener Users Association has applauded the fact that they're considering bringing more in so that the annual stock target can be reached.
The no 16 sugar contract was further boosted in online investing yesterday after fears emerged that Mexico – usually America's go-to guys for the sweetener – may struggle to grow enough due to bad weather.
As a result, at 0800 BST, New York no 16 sugar is selling for 30.63 cents a pound.
On Wednesday, the US Agriculture Department approved an increase of 450,000 tons because of a supply crunch in the States, but yesterday, sugar brokers in the country noted that another 400-to-500,000 tons will be needed to help satisfy demand.
Although the government won't formally call for extra imports until the summer, the Sweetener Users Association has applauded the fact that they're considering bringing more in so that the annual stock target can be reached.
The no 16 sugar contract was further boosted in online investing yesterday after fears emerged that Mexico – usually America's go-to guys for the sweetener – may struggle to grow enough due to bad weather.
As a result, at 0800 BST, New York no 16 sugar is selling for 30.63 cents a pound.
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