Newspaper article The Daily Mercury (Mackay, Australia)

Growers Watch Price Closely

Newspaper article The Daily Mercury (Mackay, Australia)

Growers Watch Price Closely

Article excerpt

Andrea Davy

andrea.davy@dailymercury.com.au

CANEGROWERS in the Mackay region would have welcomed Scottish independence.

Uncertainty surrounding the separation push, which was unsuccessful, had been tipped to drive down the Aussie Dollar, as a result boosting the global sugar price.

However, marketers are still predicting the Dollar will weaken further, based on hints that interest rates in the US are set to rise.

Canegrowers Mackay chief executive officer Kerry Latter said he had been watching the market closely.

"Because we are largely an exporter, with 80% of sugar produced being exported, a low Aussie dollar is good for exporters," he said.

More than half of Australia's total sugarcane crop has already been crushed.

The Australian Sugar Milling Council said the industry looked to be heading for its highest crush since 2006, with current forecasts putting the crop at about 32million tonnes.

Yesterday, the sugar price was sitting at 14 US cents a pound. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.