The uncertainty continues

Brazilian mills and refineries are buying back sugar contracts from the trade resulting in rising domestic prices in Brazil as well as a likely impact in international markets.

While in India production forecasts have being increased due to a smaller than expected impact following flooding and therefore lower crop loss.   In Russia crop damage due to bad weather resulting in lower local sugar production is expected to lead to increased imports in the first half of 2011. It is expected that Russia will export between 1-2 million tonnes as a consequence.


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