24 Jun '11, 6pm

ANALYSIS - Extra sugar from India unlikely before Nov

NEW DELHI (Reuters) - Global sugar markets may have to wait until November to see if they will get any further supplies from India, as the government of the world's second-biggest producer waits to check next season's output before allowing more exports. India's announced on Thursday it would double exports this year to 1 million tonnes. The benchmark New York price fell more than 5 percent, though the tumble came amid a broad sell-off in commodities. New York prices have risen more than 26 percent in the past month due to worries over supplies because of congestion at ports in top exporters Brazil and Thailand. Forecasts of a 4.1 percent drop in Brazilian output, after a slow start to the harvest, continue to underpin the market, dealers said. Any extra exports by India, accounting for 3 percent of supplies from Brazil and Thailand to global markets, will help cool intern...

Full article: http://sg.news.yahoo.com/analysis-extra-sugar-india-unlik...

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