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Commodities Briefing - Categorized | Agriculture, Market Moves more

Sugar shortages pummet Europe as world glut grows: Commodities

Posted on 19 October 2011

At a time when the world is facing its biggest sugar glut in at least four years, trade barriers mean the European Union is contending with a second consecutive annual shortage.
EU supply will fall 1.1 million tons short of demand in the 12 months ending in September, according to the Committee of European Sugar Users, whose members include Nestle SA, Unilever and Kraft Foods Inc. Global output will exceed usage by 5.32 million metric tons, Macquarie Group Ltd. predicts. As world sugar prices fell 23 percent in the past eight months, costs in the 27-nation bloc reached a two-year high……………………………………….Full Article: Source


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