date:Jun 08, 2012
st at their closing stages, and with both having fulfilled their earlier promise, the projected substantial global surplus for 2011/12 has truly arrived,said Rabobank.
A surplus of 4.6m tonnes is also expected for the next season (2012/13) on the strength of Indian and Thai crops, which could keep prices at current levels.
High prices in EU
However, EU prices remain high, averaging at 711 per tonne in Q2.
Rabobank predicts anabove-averagecrop for the 2012/13 season as farmers look to capital