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Sugar #11 Mar 23 (SB=F)
- Reuters
India to allow a further 2-4 million tonnes of sugar exports this season - ISMA
India is likely to allow a further 2-4 million tonnes of sugar exports in the 2022/23 season - a move which would leave total exports at 8-10 million tonnes and below last year's level, the Indian Sugar Mills Association (ISMA) said. India, the world's biggest sugar producer and the second biggest exporter behind Brazil, exported more than 11 million tonnes of sugar in the 2021-22 (October-September) season. The government earlier this month approved a first tranche of exports for 2022/23 at 6 million tonnes in a move that helped cap recent upward pressure on benchmark ICE sugar prices.
- Reuters
Food, fuel shortages hit Tunisian shops
TUNIS (Reuters) -Some Tunisian shops are rationing goods including cooking oil, sugar and butter, while big queues have hit petrol stations amid a fuel shortage as the government navigates a looming crisis in public finances. Some grocery shops have restricted customers to single packs of items in short supply, while queues outside petrol stations have blocked traffic in parts of the capital. President Kais Saied and his government have not commented on the shortages except by announcing an intention to target commodities speculators and hoarders.
- Reuters
Brazil 2022 trade surplus outlook dims, but record still in reach
Brazil's trade surplus this year is likely to fall short of prior forecasts, according to private economists and an Economy Ministry official, as a spike in the cost of imported fuel and fertilizer offsets strong exports of other raw materials. The official, who requested anonymity to discuss the ministry's confidential analysis, said Brazil's trade surplus this year is on track to miss the $81.5 billion projected earlier this month. The shifting consensus shows how even top raw material producers such as Brazil, the top exporter of soybeans, beef and sugar, plus a major global supplier of iron ore and crude oil, face mixed fortunes from this year's spike in commodity prices.
