Sugar demand high worldwide

SINGAPORE: Thai millers bought back sugar from trade houses on tight supplies, the Philippines chased refined products and raws attracted Japanese market interest despite record high premiums, dealers said on Wednesday.

Pakistan’s plan to import more sweetener also underpinned sentiment but trading was muted ahead of a Thai sugar tender on Thursday, which may offer clues on supplies in the world’s second-largest sugar exporter. State-run Thai Cane and Sugar Corp will open a tender to sell 92,666 tons of raw sugar from the 2010-11 crop on June 10. The next crop is due to be harvested from November and the crushing process may last until April 2011.

Pakistan plans to import another 375,000 tons of white sugar in August/September to meet shortages in the country ahead of Ramazan.

Published in the Express Tribune, June 10^th, 2010.