Just like the top sugar trader in the world, a global shortage of raw materials expected No. 1 importer of raw sugar Indonesia says he wants a record amount of sweet stuff. The Southeast Asian nation has said it should be about 1.4 million tons of raw sugar, or 1.33 million tons of refined varieties, for the budget this year and in early 2021. It is an import more than 11 times over the previous year. Meanwhile, domestic production, while local demand is expected to fall. “Ideally, at least 1.3 million tons of supplies must be from 2021,” Yadi Yusriyadi, senior consultant at the Indonesian Sugar Association, told reporters in Jakarta on Wednesday. “If there is no additional power supply through imports, while demand continues to rise, prices will continue to rise in any case.” World prices of sugar have about 12% this year for the best start to a year in a decade as drought cut supplies from Thailand peaked what the No. 2 exporter in the world. Tight Thai surprised traders at a time when the European Union has already produced less, Brazil had more turned its sugar harvest into ethanol and frost destroyed crops in North America. London-based commodities trader ED & F Man Holdings Ltd. its forecast for world sugar deficit this season from about 10% to 7.7 million tons from a surplus in the previous year. The market, holding first, with excess supply from India now needs sugar, said LMC International. Food consumption in the largest Southeast Asian economy has increased over the last decade such as changes in diet and lifestyle wealth to grow. The growing demand by Indonesia can India and Brazil Top manufacturers benefit sugar, is trying to bridge the gap in the supply of Thailand. Indonesian Sugar Association is 20 mills, especially in state hands which crush internal rod or makes additional imports, mainly from Thailand, to meet household consumption. Industrial users is provided by another group of 11 refineries that measure only imported raw sugar. Thai sugar producer in the country probably sugar imports most of its raw sugar from Thailand in the first half, but also from Australia and supply eyeing India, the president of Indonesia Sugar Refiners Association Dharmawan Bernardi said. The three countries support the vendors carry the same duty of 5% due to its proximity to Indonesia and as sweeteners, Dharmawan said in a text message. The government has eight refineries allowed 1.1 million tons of imported raw sugar in the first half. The Indian government is to reduce the specific color in advanced talks for Indonesia, the supply will allow the South Asian country, according to the Indian Sugar Mills Association. Indonesia is to buy sugar from Brazil, according to the best in the world Alvean trader who is set to ship 60,000 tonnes of raw sugar this week. Dharmawan the Refiners Association, it said the Brazilian imports data received. -With the help of Isis Almeida.
The world is short of sugar. because prices will probably increase more here
