Raw sugar premiums steady in Thailand

Raw sugar premiums steady in Thailand

BANGKOK (Reuters): Thai raw sugar premiums were steady this week as re-purchases by sugar mills slowed, trade sources said yesterday.

Thailand has so far met most of its export commitments to Indonesia, its biggest white sugar buyer this year, they said.

Indonesia is said to have bought 1.3 million tons of white sugar since last October that should cover the country's needs at least until June.

Of the amount, some one million tonnes are believed to be from Thailand. Trade sources said Thailand has so far shipped around 830,000 tons of white sugar to Indonesia between October and mid- March.

Thai raw premiums for March/May deliveries were quoted around 95/110 points over New York's Coffee Sugar and Cocoa Exchange futures. May/July and July/September were bid at 105 points without any offers, trade sources said.