Brief Market Overview: Poor Weather Yet to Change Outlook

Oliver Chapman

Poor weather in India and Thailand could reduce 2019/20 production expectations over the coming month.
In the case of Thailand, surplus sugar this season is likely to be rolled ensuring an oversupply for next season in any case.
For India, high stock levels mean that production would need to be drastically lower for exports to not be needed next season.
If Indian exports weren’t to occur next season this would change our oversupplied outlook.
However, stocks would remain high worldwide reducing the need for buyers to rush to the market.

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