date:May 24, 2012
However, forecasts for Europe and the US do not look so bright.
Global sugar prices averaged at $24.6 per lb during the first quarter (Q1) of 2012 and are expected to drop to $20 per lb by Q1 2013, a 19% fall.
The estimates came in Rabobanks Agri Commodities monthly update issued this week.
Rabobank slightly lowered its price forecast for the current quarter by $0.7 per lb as global supply and demand for the 2011/12 season showed a 8.1 million tonne surplus.
A further 4.6 million tonne s