•   
  •   
  •   

Money The world is running short of sugar and top buyer wants more

09:55  14 february  2020
09:55  14 february  2020 Source:   msn.com

Canadian speedskating star Kim Boutin to skip final World Cup stop

  Canadian speedskating star Kim Boutin to skip final World Cup stop DRESDEN, Germany — Canadian short-track speedskater Kim Boutin has withdrawn from the final World Cup stop of the season. The announcement from Speed Skating Canada comes after Boutin won a gold medal in the women's 500 metres at a World Cup in Dresden on the weekend. Boutin said in a release that she will head home to Montreal to prepare for the World Short Track Championships in Seoul, South Korea on March 13-15. Courtney Sarault (Moncton,The announcement from Speed Skating Canada comes after Boutin won a gold medal in the women's 500 metres at a World Cup in Dresden on the weekend.

The World Is Running Short of Sugar and Top Buyer Wants More . By. Just as the world ’s top sugar traders forecast a global shortage of the commodity, No. 1 raw- sugar importer Indonesia says it wants a record amount of the sweet stuff.

(Bloomberg) -- Follow Bloomberg on LINE messenger for all the business news and analysis you need.Just as the world ’s top sugar traders forecast a global shortage of the commodity, No. 1 raw- sugar importer Indonesia says it wants a record amount of the sweet stuff.The Southeast Asian

(Provided by Time)

Just as the world’s top sugar traders forecast a global shortage of the commodity, No. 1 raw-sugar importer Indonesia says it wants a record amount of the sweet stuff.

The Southeast Asian nation said it aims to import about 1.4 million tons of raw sugar, or 1.33 million tons of the refined variety, for household use this year and in early 2021. That’s a more than 11-fold increase on last year. Meanwhile, domestic output is expected to sink while local demand increases.

School buses cancelled across eastern Ontario

  School buses cancelled across eastern Ontario School buses cancelled across eastern OntarioAlong with the capital, buses are not running again today in the Upper Canada District School Board and the Catholic District School Board of Eastern Ontario.

Just as the world ’s top sugar traders forecast a global shortage of the commodity, No. 1 raw- sugar importer Indonesia says it wants a record amount of the sweet stuff. Piles of refined white sugar cubes sit at the ED&F Man Ltd. refinery in Nikolaev, Ukraine.

That s a more than 11-fold increase on last year. Meanwhile, domestic output is expected to sink while local demand increases. Ideally we must have at least 1.3 million tons of stockpiles in early 2021, Yadi Yusriyadi, senior adviser at the Indonesian Sugar Association, told reporters in Jakarta on Wednesday.

The imports for households are on top of 3.25 million tons in forecast purchases this year to supply industrial users. The U.S. Department of Agriculture estimates the country will buy 4.5 million tons of raw sugar in 2019/20.

“Ideally we must have at least 1.3 million tons of stockpiles in early 2021,” Yadi Yusriyadi, senior adviser at the Indonesian Sugar Association, told reporters in Jakarta on Wednesday. “If there’s no additional supply through imports while demand keeps increasing, prices will definitely continue to rise.”

a screenshot of a cell phone: Flying High © Bloomberg Flying High

Price Rally

Global sugar prices have surged about 12% this year for the best start to a year in a decade as a drought cut shipments from Thailand, the world’s No. 2 exporter. The Thai squeeze surprised traders at a time when the European Union was already producing less, Brazil had turned more of its cane crop into ethanol and freezing weather wrecked crops in North America.

Mahomes leads Chiefs' rally past 49ers in Super Bowl, 31-20

  Mahomes leads Chiefs' rally past 49ers in Super Bowl, 31-20 MIAMI — Uncomfortable and under duress for much of the game, Patrick Mahomes suddenly recaptured his mojo — and lifted Andy Reid and the Chiefs to a Super Bowl victory — the team's first NFL championship in a half-century. All it took was falling behind by double digits in the post-season again. Then Mahomes, selected MVP, hit two long passes on touchdown drives for a 31-20 victory Sunday over the San Francisco $9ers. The vaunted 49ers defenceAll it took was falling behind by double digits in the post-season again. Then Mahomes, selected MVP, hit two long passes on touchdown drives for a 31-20 victory Sunday over the San Francisco $9ers.

Just as the world ’s top sugar traders forecast a global shortage of the commodity, No. 1 raw- sugar importer Indonesia says it wants a record amount of the sweet stuff. That ’s a more than 11-fold increase on last year. Meanwhile, domestic output is expected to sink while local demand increases.

Key rates around the world are already at or near historical lows. “We’re close to those limits,” Carney said. He sees a risk of a global so-called liquidity trap, in which floods of central-bank cash fail to boost spending,” but Bloomberg. The World Is Running Short of Sugar and Top Buyer Wants More .

London-based commodities trader ED&F Man Holdings Ltd. raised its forecast for a world sugar deficit this season by about 10% to 7.7 million metric tons after a surplus a year earlier. The market, which was previously grappling with an oversupply from India, now needs the sugar, said LMC International.

Food consumption in Southeast Asia’s largest economy has surged in the past decade as growing affluence changes diets and lifestyles. Rising demand from Indonesia may benefit top sugar producers India and Brazil, both of which are seeking to fill the gap in supply from Thailand.

The Indonesian sugar association represents 20 mills, mostly state-owned, that crush domestic cane or make additional imports, mostly from Thailand, to meet household consumption. Industrial users are supplied by another group of 11 refiners that process imported raw sugar.

Thai Sugar

The country’s sugar refiners will likely buy most of their raw sugar from Thailand in the first half, while also eyeing supply from Australia and India, said Chairman of Indonesia Sugar Refiners Association Bernardi Dharmawan.

The three countries are favorable suppliers because of their close proximity to Indonesia and as the sweeteners carry the same import duty of 5%, Dharmawan said in a text message. The government has allowed eight refiners to import 1.1 million tons of raw sugar in the first half.

The Indian government is in advanced discussions for Indonesia to lower the color specification that will allow supply from the South Asian country, according to the Indian Sugar Mills Association.

Indonesia is also buying sugar from Brazil, according to world’s top trader Alvean, which is set to ship 60,000 tons of raw sugar this week. Dharmawan of the refiners association said he has yet to get details of Brazilian imports.

--With assistance from Isis Almeida.

First-time homebuyer incentive a 'flop' that might be driving up Canadian house prices .
First-time homebuyer incentive a 'flop' that might be driving up Canadian house pricesMONTREAL ― The federal government’s First-Time Homebuyer Incentive is proving largely unpopular ― but despite little public interest, it might still be driving up house prices as speculators return to the market.

—   Share news in the SOC. Networks

Topical videos:

usr: 0
This is interesting!