Colosseum a.s. (Colosseum a.s.)
Commodities  |  August 02, 2012 11:10:28

Drought threatens India's sugar production

ColosseumMore than 50 percent of the territory of India, which is the second largest producer of sugar in the world this year is affected by excessive drought. The largest production area of ??Maharashtra would be able to reduce production by 22% to 7 million tonnes. In the area of ??Uttar Pradesh is expected to increase sugar production by 10% to 7.6 million tonnes. Commodity prices in the domestic market have increased since the beginning of July by 24%. The Government therefore considers limiting exports, which would result in growth of international prices. Októbrový contract today at the Intercontinental Exchange has stagnated at 22.43 U.S. cents per pound.

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