Thailand, the world's second biggest sugar exporter, will have around 7 million tonnes available for shipment next year after setting aside 2.3 million tonnes for domestic consumption, the Office of the Cane and Sugar Board (OCSB) said on Thursday. The 2012/13 harvest started on November 15 and around 56,000 tonnes of sugar has been produced so far.
"We forecast 2012/13 output at 9.4 million tonnes. There should be around 7 million tonnes left for exports next year," Somsak Suwattiga, the OCSB's secretary-general, told Reuters. Thailand normally allocates 2.2 million to 2.4 million tonnes for the home market, known as Quota A sugar, and the rest for export.
Thailand exported a record 6.71 million tonnes in 2011 and is expected to ship around 7.7 million tonnes in 2012, according to traders and industry officials. Traders said they expected Thai exports to remain strong as demand was good, especially in Asia. "I'm not worried about selling sugar next year as there are buyers everywhere, especially in Asia," said one Bangkok-based trader. Traders said strength in demand after prices dipped had encouraged major buyers, such as China, to build up stocks.
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