World market - Latest Sugar News - Fork Cast

The ISO conference highlighted a growing interest in sustainable fuels due to the pandemic. High pollution levels affect COVID-19 mortality. The demand for ethanol is increasing, and bioethanol production could grow tenfold. Sugar consumption is decreasing, impacting the market and exports. According to Plinio Nastari's estimates, sugar production in Brazil is expected to reach a historical record.

Prices for the world sugar No. 11 have decreased by 3.59%, and for London white sugar No. 5 by 2.44%. The reason is the forecast of rain in Brazil, which eased concerns about drought and stimulated futures sales.

The Brazilian agency Conab predicts a 32% increase in sugar production, reaching 39.33 million tons. Ethanol production is expected to decrease by 14% to 30.56 billion liters. Sugar exports have increased by 70%.

In Germany, a yellowing virus affecting sugar beet crops has been detected, causing Sugar Beet Root Syndrome (SBR). The disease has spread in the southwest of the country, aided by a mild winter. Producers are demanding support from the authorities. France has already presented a plan to assist its farmers.

Last week, sugar futures for March closed higher, driven by a decrease in production in Brazil. Prices rose slightly due to a 16.2% decrease in production, reaching 2.829 million tons. However, the price increase was limited by the expected production growth of 1.5% by the 2024/25 season.

Prices for sugar in New York and London fell in the middle of the week due to forecasts of rain in Brazil, which reduced concerns about drought. It is expected that showers will last for a week in the main sugar-producing regions of the country.

The sugar producer Cristal Union from France predicts a 30% reduction in sugar beet yield due to diseases and drought. The processing level will decrease by 20-30%, while production will increase by 150 million euros.

The French government has allowed the use of pesticides to save the crop.

Production of sugar beet in Iran will increase by 50% in the current crop year. The Ministry of Agriculture plans to improve agricultural production with the "Growing Scheme" program. The country aims to ensure 90% food security by increasing efficiency in agriculture.

In the spring in the UK, sugar beet producers will not use neonicotinoids due to the reduced risk of virus yellows. British Sugar anticipates a reduction in sugar production by up to 900 tons due to the late appearance of aphids. In 2021, it is planned to grow the crop without the use of neonicotinoids.

Prices for sugar have risen due to poor weather conditions in Brazil. NY-sugar has reached a 6.75-month high. Rabobank has lowered its sugar production forecast in Brazil for the 2024/25 year.

The price of raw sugar has dropped to a 2-week low due to increased supply from Brazil. Production is higher than expected, with lower yields, but more sugar. Prices in New York and London have decreased by 2.3% and 2.2%, respectively.

Prices for sugar are decreasing at a slower pace after the rise. Sugar production in Russia exceeds last year's figures. Sugar exports are increasing, but the surplus is not being exported due to high domestic demand. The cost price of white sugar is being assessed. Sugar supplies to other countries have been increased. Raw sugar exports are not yet being noted. All details are available at sugar.ru.