Sugar will probably face the first shortfall in years, the main reason is Brazil, which accounted for 28% of global output last year and 57% of exports, which is facing the driest summer in at least 7 decades in the Center South region, damaging the crop and leaving the global sugar output in deficit.
The forecast is that the global sugar output will be 900,000 metric tons below demand in the 12 months ending Sept. 30.
This shortfall could be worst as more cane is used to make ethanol, which is offering better returns due the growing domestic demand for fuel in Brazil.
However the global demand of Sugar will reach a record 167.6 million tons in the year ending Sept. 30, extending two decades of increases that saw consumption surge 48%, according USDA.
The price of raw sugar has advanced 13% since the end of January.
Dave McIntyre from Washington Post tell us why Portugal is highly recommend for wine lovers!
You can read HERE his article.
China is acquiring taste for Olive Oil, although the consumption of olive oil accounts only for 1% of China’s total cooking oil consumption, the importation increased 5,8% in 2013 from the previous year.
The consumption trend of Olive Oil for the next years will continue to grow, the cause behind it is the increase of middle class in China as explained by the professor Zhang Yuxin “From a long-term perspective, rising per capita income, an increase in the number of middle-class people and growing demand for more sophisticated food will continue to increase in China”.
Source: China Daily
In 2013 the exportation of Portuguese Wines grew 2.4% in value compared to 2012, reaching the record value of 724.7 million of Euros.
Europe continues to be the biggest destination of the Portuguese Wines. Outside Europe Angola is the biggest market with 20.8% of the exportation volume.
This season Portugal had the biggest harvest of Olive in 50 years. The production was 627 thousands of tonnes, which is 4 times more compared with 14 years ago. However this big production could put some pressure on the olive oil prices this year.
The magazine Wine Spectators has included 4 Portuguese Wines in your annual list Top 100 of 2013.
The awarded Portuguese wines were the following:
- Croft Vintage Port (13th place)
- Quinta do Passadouro from Douro (37th place)
- Quinta do Crasto Douro Reserva from Douro (81st place)
- Graham Tawny Port 20 Year Old (87th place).
The selection of wines for the TOP 100 List was based on quality, value, availability and excitement.
Ten Portuguese Wines on the “Top 100 Best Buys of 2013”
Ten Portuguese Wines have been included on the Wine Enthusiast magazine annual list of the “Top 100 Best Buys” .
Highlight for the Vinho Verde Aveleda 2012 which got an honorable second place.
Moreover Portugal was the third country with more wines in the list, assuring once again the excellent value for money of the Portuguese Wines.