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ABARES raises sugar estimate

This article was originally published in The Public Ledger

AUSTRALIAN raw sugar production in the 2012/13 season is forecast at 4.5m tonnes, Australia’s Agricultural and Resource Economics and Sciences (ABARES) said on Tuesday, an increase of 100,000 tonnes from its previous estimate in June. Australian sugar exports are forecast to rise by nearly 12% from last year to 3.4m tonnes, unchanged from the June forecast. The value of sugar exports is forecast to decrease by 9% in 2012/13 to nearly A$1.6bn (US$1.68bn), reflecting forecasts of lower world sugar prices, ABARES said, compared with a 10% fall predicted in June.


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