World market - Latest Sugar News - Incubator

At the March trading platform in New York, the price of sugar SBH25 increased by 0.14 (22.22; +0.63%). On the ICE London exchange, the price of sugar SWZ24 increased by 5.70 (576.90; +1.01%) due to the expected reduction in rains in the Central-South region of Brazil. Showers are predicted to be in lesser volume.

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%.

Prices for sugar on the ICE exchange fell by 3.8% from August 14 to August 28, 2020, from $0.131 to $0.126 per pound. The information was provided by "KazakhZerno.kz".

Company Raizen Energia SA is in negotiations to acquire Louis Dreyfus Holding BV for Biosev SA, which has led to a 25% increase in Biosev's shares. The deal also includes the repayment of Biosev's debt in the amount of 7.3 billion reais. This will help the companies solve financial problems caused by excess sugar in the market and price reductions.

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.

The Northern Central Research Center of North Dakota is researching the improvement of acidic soils with sugar beet lime, addressing the phosphorus deficiency in plants. Experiments have shown success: soil pH increased from 5.3 to 6.7 after lime application. Optimal application rates are being studied for each field.

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.

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.

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.

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.