El Nino may hasten rebound in sugar prices

LONDON: An El Nino weather pattern damaging sugar crops may mean global demand will outstrip production to a greater extent than expected in the upcoming season, hastening a rebound in prices from a 6-1/2 year low hit last month.

"The current drought (in Thailand) is more severe than last year's and recent reports indicate some cane has been lost in badly affected areas in the north-east," Tom McNeill, director of analyst Green Pool, said.