February 10, 2020 / 7:26 AM / 12 days ago

Louis Dreyfus says market needs more Brazil sugar

DUBAI, Feb 10 (Reuters) - Louis Dreyfus said on Monday the sugar market needed more Brazilian production and prices would remain elevated, after tight supplies drove them to a two-year peak.

“I do think that we need more production from Brazil and that means higher prices even with the current energy price,” Enrico Biancheri, global sugar head at Louis Dreyfus, told an industry conference in Dubai.

Poor crops in the European Union, Thailand, India and the United States have helped to tighten supplies, with the global market widely forecast to be in deficit in 2019/20. (Reporting By Maha El Dahan; Editing by Edmund Blair)

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