{"id":158376,"date":"2019-10-25T10:45:04","date_gmt":"2019-10-25T14:45:04","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=158376"},"modified":"2019-10-25T07:02:19","modified_gmt":"2019-10-25T11:02:19","slug":"sugar-analysis-expectations-of-higher-crop-and-exports-bearish-for-sugar-price","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/10\/sugar-analysis-expectations-of-higher-crop-and-exports-bearish-for-sugar-price\/","title":{"rendered":"SUGAR Analysis: Expectations of higher crop and exports bearish for sugar price"},"content":{"rendered":"
October 25, 2019<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

Expectations of higher crop and exports bearish for sugar price<\/strong><\/p>\n

Brazil\u2019s sugar output is expected to rise in September while India subsidizes its exports. Will the sugar prices<\/a> continue declining?<\/p><\/blockquote>\n

Sugar global price is depressed due to ample global supply. India\u2019s government established export subsidy in the end of August to support sugar mills in shipping 6 million tons of sugar in 2019\/20 October-September season. India is the fourth largest sugar exporter in the world. And Indian sugar mills are aggressively selling 2018\/19 old crop sugar to Iran: they reached agreement to export 350,000 tons of sugar to Iran a week ago. A couple weeks ago S&P Global Platts analysts survey projected the sugarcane crush in the key Center-South Brazil region is expected to total 36.44 million tons in the second half of September, an increase of 30.9% year on year. And the proportion of cane used for sugar production is expected to be 34.44%, up from 33.02% a year earlier. Brazil is top sugar exporter in the world. Expectations of ample global supply are bearish for sugar prices.<\/p>\n

\"SUGAR<\/p>\n

On the daily timeframe the SUGAR: D1<\/b> is below the 200-day moving average MA(200) which is falling, this is bearish.<\/p>\n