Falling EU sugar stocks pave way for up to 600,000 T imports

miércoles 21 de octubre de 2015 11:17 GYT
 

* Import licences submitted for "any origin" sugar

* Brazil "CXL" sugar could be imported to EU

By David Brough

LONDON, Oct 21 (Reuters) - EU sugar stocks are tightening, triggering expectations for up to 600,000 tonnes of imports of raw sugar into the bloc over the next year, much of it likely from Brazil, trade sources said on Wednesday.

A recent jump in EU domestic sugar prices, linked to declining EU supplies, will benefit the balance sheets of EU sugar suppliers, they added.

Expectations of a sharp drop in current EU beet sugar production, compared to last year, will erode stocks in the bloc, boosting the need for imports.

"The market sees that it needs those imports over the next year or so, and is moving to the point where that would be viable," said Gerald Mason, senior vice-president at Tate & Lyle Sugars, a unit of privately owned ASR Group.

In recent years the EU's import requirements have been subdued due to hefty supplies and stocks.

According to EU data published in June, EU quota sugar stocks at end-September 2016 were forecast at 746,000 tonnes, down from 1.069 million tonnes at end-September 2015.   Continuación...