Jonathan Kingsman News
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Sugar output is poised to drop for the first time since 2009 as farmers from Mexico to India cut plantings after the biggest two-year price slump since 1999.
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Sugar fell to the lowest level in more than 2 1/2 years in London as imports may decline after consuming countries re-built stockpiles. Cocoa slid.
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The sugar-cane crop in Brazil’s center south, the main growing region of the world’s biggest producer, may climb 60 million to 65 million metric tons in the season that starts there in April, according to Kingsman SA.
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Global sugar output may beat demand for the first time in four years if “normal weather” returns to the biggest growing nations, according to Kingsman SA.
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The global sugar surplus for the coming season will be 5.9 percent smaller than first estimated as output falls in India, the world’s second-biggest producer, according to Kingsman SA.
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Raw sugar may drop to 17 cents a pound over the remainder of this year, the lowest level since 2010, as global supply is set to beat demand for a third year, according to broker and researcher Kingsman SA.
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Sugar, trading near a two-year low, is set to pile up in producing countries next season as a lack of demand amid a global surplus forces growers to hold back supplies, according to Kingsman SA.
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The sugar cane crop in Brazil’s center south, the main growing region of the world’s biggest producer, will be 2 percent smaller than a previous estimate, according to broker and researcher Kingsman SA.
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Sugar prices may drop at least 13 percent by early next year as an increase in supplies from Europe and Asia counter a drop in production in Brazil, according to broker and researcher Kingsman SA.
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Sugar output in India, the second- biggest producer, will drop for the first time in four years next season as dry weather in some regions spurs farmers to plant other crops, broker and researcher Kingsman SA said.
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