Tag Archives: japan earthquake

Earthquake damages sugar refineries

Following the earthquake last week sugar refining in Japan is now focused in the west of the country away from affected regions. Two refineries were damaged in Chiba.  Although the damage is thought to not have been too serious.

Japan has 12 sugar refineries and imports approximately 1.5 million tonnes of raw sugar per annum.  Domestic raw sugar output is approximately 650,000 tonnes.  Japan makes up approximately 1.5% of global consumption.  Thai sugar for the Japanese market was not being offered following the earthquake.

Efforts are ongoing in Japan to cool two nuclear reactors with water.

 

Advertisements

Sugar prices shaken by earthquake

ICE raw sugar futures slid by over 7% to 25.65 cents per lb, the lowest this year on selling following the Japan earthquake and nuclear fears.  This is some way off recent 30 year highs.  Demand is likely to be impacted in the world’s third largest economy.  Meanwhile May white sugar also fell $39.70 to $667.10 per tonne.  The fall in prices which has little to do with the valuation of sugar may pave the way for physical buyers to step in.