This year, sugar imports from Taiwan Sugar may increase by 20%

Dow Jones Singapore News, an anonymous official from Taiwan Sugar Corporation (TSC) said on Thursday that it estimates that TSC’s sugar imports will reach 342,000 tons in 2010, up 20% year-on-year, with 108,000 tons imported in October-December.

As a rule, the amount of sugar purchased by TSC at each tender is between 34 and 40,000 tons. In the past five years, TSC imported about 80% of the total sugar from Australia in the total amount of sugar imported each year. The rest was imported from Brazil, Thailand, and India. However, it is estimated that the proportion of sugar produced by Australians in total imports of TSC in 2010 is likely to increase. Drop to 50%.

Statistics show that TSC imported 18,000 tons of high grade raw sugar (VHP raw sugar) from Brazil in 2008. As expected, this year TSC may switch to import from India.

At present, the price of sugar on the island of Taiwan has climbed from NT$27-28/kg three months ago to NT$30/kg.

Due to the recent tight supply, weak US dollar and some Brazilian manufacturers' purchases, the price of raw sugar futures in the ICE sugar market in New York last week rose by 27 cents/lb. The price of sugar in the ICE sugar market rose about 1103 on Wednesday. 1.7% to close at 28.81 cents/lb.

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