Sugar extends rally to 28 Year High
Jim Rogers commodities legend , wall street king and chairman of Rogers Holdings, speaks this 10th of August from Singapore with Bloomberg TV about about the sugar market and the outlook for sugar prices and other commodities driven by the Asian and in particular Chinese demand . "Sugar is certainly in a Bull market , all commodities are in a bull market , how much higher it will go , I have no idea , usually in bull markets things go to the All Time High somewhere along the line " says Jim Rogers before adding :"The world have changed but demand is much different now there was no biofuels 30 years ago or 35 years ago when sugar made its previous All Time High we are now burning a lot of this stuff in our fuel tanks for better or for worse "Jim Rogers then adds that : "we have three billion people in Asia now who are trying to live a better life , last time during the bull market in sugar , Asia was not in the game , Mao Tse Tung was still running China , India was still runed by Indira Gnandi and Nehru , you have a huge change in demand now , as countries and nations get more prosperous they consume more sugar , people like sweets "
“Sugar is certainly going to go much, much higher during the course of the bull market,” “Sugar is still 70 percent below its all-time high and not many things in life are 70 percent below what they were in 1974. Sugar has a wonderful future.”
"All commodities are in a bull market."
" Performance of sugar, factors affecting price"
The demand for sugar is expected to exceed the offer worldwide due to the damaged
crops in Brazil and the drought in India , this implies that the world won’t have enough sugar for a second straight year
(Source: Bloomberg)
