Dec. 12 (Bloomberg) -- White sugar’s premium over raw sweetener may fall as much as 35 percent in the first quarter on increased exports from the European Union, India, and Thailand, according to Swiss Sugar Brokers.
White, or refined, sugar on NYSE Liffe in London was trading $93 a metric ton above the price of the raw variety on ICE Futures U.S. in New York at 3:08 p.m. London time. The price difference, known as the white premium, may fall to $60 a ton, said Naim Beydoun, a broker at the Rolle, Switzerland-based company.
“It would be difficult not to turn bearish ahead of additional exports from the EU, India and Thailand,” he said in an e-mail today.
India may export 2 million to 2.5 million tons of the sweetener in the 2011-12 season, and Thailand may ship 650,000 tons in the first quarter, he said. The EU may ship the maximum allowed by the World Trade Organization, he added.
--Editors: Claudia Carpenter, Sharon Lindores
To contact the reporter on this story: Isis Almeida in London at Ialmeida3@bloomberg.net
To contact the editor responsible for this story: Claudia Carpenter at Ccarpenter2@bloomberg.net.