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UPDATE 1-Thai TCSC sells 73,332 tonnes raw sugar at premium 50-52 points
March 11, 2014 / 9:22 AM / 3 years ago

UPDATE 1-Thai TCSC sells 73,332 tonnes raw sugar at premium 50-52 points

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    BANGKOK, March 11 (Reuters) - The state-run Thai Cane and
Sugar Corp (TCSC) has sold 73,332 tonnes of raw sugar from the
current 2013/14 crop to two international trading houses at
premiums ranging between 50 to 52 basis points over New York raw
sugar futures prices, a senior TCSC official said on Tuesday.
    "The two trading houses are Sopex Asia Pte Ltd. and ED&F
Man," said the official who declined to be identified.
    The benchmark New York raw sugar contract for May delivery
 closed up 0.21 cent, or 1.2 percent, at 18.22 cents a lb
on Monday.
    Thailand is forecast to produce a record 11 million tonnes
of sugar in 2013/14 due to favourable weather. The crop season
started in November and will run through to April.
 
    Thailand, the world's second-biggest sugar exporter,
normally sets aside 800,000 tonnes of raw sugar each year for
the TCSC to sell. Half is sold through tenders to international
trading firms and the rest to domestic mills for export.
    Details of shipment in 2014 (in tonnes):
    
 Shipment    J-spec     Hi-pol     Premium    Buyers
 July-Sept   18,078     -          50         ED&F Man
 July-Sept   -          12,000     52         Sopex
 July-Sept   -          43,254     52         ED&F Man
 
 (Reporting by Apornrath Phoonphongphiphat; Editing by Robert
Birsel)

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