Sugar mills in Thailand, the world’s second-largest exporter, will extend cane crushing into next week, increasing supplies to the highest ever, according to the country’s Office of the Cane & Sugar Board.
“Only a few millers will extend crushing to next week” to process about 40,000 tons of cane a day, Prasert Tapaneeyangkul, secretary-general of the board said today.
Cane harvests climbed to a record of 95.1 million tons in the crop year from Nov. 28 to May 31, according to data on the Cane & Sugar Board website. During the period, Thailand produced 9.63 million tons of sugar. Of the total, 3.9 million tons were white sugar and the remaining 5.6 million tons were raw variety, it said.
Thailand may accelerate production of white sugar after the premium for the refined sugar variety over the raw sweetener climbed to near a one-year high, Swiss Sugar Brokers said today.
The premium rose to $162.30 a metric ton by 9:47 a.m. in London, the highest since June 18, according to data on Bloomberg.