International sugar price still depressed – Imara

The international sugar price remained depressed over the past year, with high month-on-month volatility, Imara Africa Securities (IAS) said in its 2014 sub-Saharan Africa (SSA) Sugar Sector Report, which was released on Friday. IAS stated that, as at the end of August, the sugar price was trading 46.08% below its five-year high reached in July 2011; however, this was in line with expectations of most global forecasts, which attributed the depressed prices to the excess global supply as the sugar balance remained in a production surplus, thus negatively affecting the medium- to long-term price outlook.