• The market has remained very rangebound recently. 
  • Retail interest in buying agri commodities could provide some upside to price however there is some very heavy selling pressure to come from producers if prices rise. 
  • On top of this the whites market is oversupplied – Indian sugar has been exported quicker than most people expect. 
  • Traders also have high stocks in warehouses and there is lots of available sugar. 
  • This is illustrated by stocks of old crop Thai white sugar at the terminal that is proving difficult to sell.  

 

 

Oliver Chapman

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