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Sugar #11 Jul 22 (SB=F)

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  • Bloomberg

    India to Limit Sugar Exports in Risk to Global Food Prices

    (Bloomberg) -- India will restrict sugar exports as a precautionary measure to safeguard its own food supplies, another act of protectionism after banning wheat sales just over a week ago. Most Read from BloombergPlot to Kill George W. Bush in Revenge for Iraq War Was Foiled, FBI SaysStocks Finish Off Session Lows While Bonds Climb: Markets WrapTexas Shooter Kills 18 Elementary School Children, One TeacherSocial Media Stocks Sink to Erase $135 Billion on Snap WarningThe government will cap sugar

  • Reuters

    Food crisis fuels fears of protectionism compounding shortages

    A growing world food crisis is precipitating protectionist moves by countries which are likely to compound the problem and could lead to a wider trade war, business leaders and policymakers at the World Economic Forum said. In a sign of the escalating squeeze on food supplies and rising prices, a government source told Reuters that India could restrict sugar exports for the first time in six years to prevent a surge in domestic prices. "It is a major issue, and frankly I think the problem is even bigger ahead of us than it is behind us," Gita Gopinath, first deputy managing director of the International Monetary Fund, told Reuters of rising food security concerns.

  • Reuters

    Brazil mills cancel sugar export contracts, shift output to ethanol

    Brazilian sugar cane mills are cancelling some sugar export contracts and diverting production to ethanol to cash in on high energy prices, according to people with direct knowledge of the deals, raising concerns of a sugar shortage. Nearly every company involved in sugar trading in Brazil has seen cancellations, a trader at a large international commodities merchant told Reuters on the sidelines of Sugar Week in New York last week. A large fall in sugar output could lead to a global sugar shortage, some traders say.