Sugar production seen remaining weakA sugar cane farmer works on a burnt field, a practice which authorities banned to avoid smog, in Suphan Buri province, north of Bangkok, Jan 21, 2020. Drought and low cane prices have contributed to a decline in the kingdom’s production, the world's second largest exporter after Brazil. "The (sugar) market is recalibrating but can't do this properly until it knows how much sugar Thailand will actually produce this year and what the implications are for next year," Martin Todd, managing director of LMC International said. Analyst Green Pool, in a report received on Monday, cut its forecast for Thai sugar production this year to 9.55 million tonnes, sharply down from last season’s 14.57 million tonnes. A Reuters poll of traders and analysts, issued in late January, had a median forecast of 6.72 million tonnes.

Source: Bangkok Post February 10, 2020 09:45 UTC