Asian sugar trade likely to remain thin<\/p>\n
BANGKOK (Reuters): Asian sugar trade is expected to remain
\nthin in coming days, with little fresh demand seen as the market
\nawaits a Chinese tender mid-week, traders said on Monday.<\/p>\n
\"Indonesian buyers have been taking white sugar from India,
\nbut slowly and in small volume,\" said one trader.<\/p>\n
Indonesia, Southeast Asia's largest sugar importer, ships in
\naround one million tonnes of sugar, mostly whites, each year.
\nIndia and Thailand are Asia's main sugar suppliers.<\/p>\n
Indonesia's harvest season started in April and will run
\nthrough to September.<\/p>\n
Indian white sugar was trading at around $262-$265 per tonne
\nC&F Jakarta for prompt shipment, traders told Reuters. Thai white
\nsugar was quoted at $265-$270 per tonne FOB.<\/p>\n
The market is currently watching for a sugar tender in China,
\nscheduled for Wednesday. China is expected to sell around 100,000
\ntonnes of white sugar from its national reserves, traders said.<\/p>\n
\"It will be interesting to see how much sugar will be sold in
\nthe tender and what prices they will get,\" a trader said.<\/p>\n
The minimum tender price is likely to be set at 3,300 yuan
\n($398.7) per tonne, according to traders.<\/p>\n
In a tender earlier this month, the Chinese government sold
\n70,500 tonnes of white sugar, with prices ranging between 4,230
\nand 4,460 yuan per tonne.<\/p>\n
Guangxi ex-factory white sugar has been quoted steady for
\nseveral weeks at around 4,200-4,250 yuan per tonne.<\/p>\n
Traders said only a significant rise above that level, to
\n4,500-4,600 yuan, might prompt the Chinese government to come
\nonto the market to import more sugar.<\/p>\n
Although orders for 500,000 tonnes of raw sugar have been
\nplaced for June-August shipment, China is expected to import
\nanother 500,000 tonnes later in the year due to expected domestic
\nshortfalls, traders said.<\/p>\n
Traders said some Thai mills have already started to offer
\nwhite sugar for March-May 2002 shipment. The sugar was offered on
\nMonday at a $6 premium over London prices, without bids.<\/p>\n
Thai white sugar for July 2001 shipment was offered at a $2
\ndiscount under London prices, without bids.<\/p>\n
Thai raw sugar premiums for July-September were offered steady
\nat 70 points over New York CSCE, without bids. Premiums for
\nOctober-December shipment were offered unchanged at 100 points
\nover, with no bids.<\/p>\n
In the Thai market, there was talk the semi-official Thai Cane
\nand Sugar Corporation (TCSC) is likely to hold a sugar auction
\nnext month, to sell 400,000 tonnes of Quota B raw sugar for 2002
\nshipment.<\/p>\n
Paris-based Jean Lion has nominated a few vessels to take
\n25,000 tonnes of Thai raw sugar for prompt shipment to various
\ndestinations in Asia including China, Indonesia and Malaysia,
\nThai shippers said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/asian-sugar-trade-likely-to-remain-thin-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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