More Commodities - Sugar

Sugar: high prices fail to impress buyers

July 5, 2023 at 10:21 AM , Der AUDITOR
Play report as audio

BRASÍLIA/BRUSSELS. Grounds are slippery in Brazil’s sugar market as local traders do not only need to keep a close eye on quotations in New York and London but are also confronted with manipulation and fraud. The EU may not be Brazil’s top export destination, but raw cane sugar imports have soared despite prices being high.

Traders confronted with fraud and manipulation in Brazil

Sugarcane crushing is underway in Brazil with the mills eager to allocate large volumes to sugar rather than to ethanol as prices are highly attractive. Quotations in fact peaked in London and New York in April and still come close to this level. The United States Department of Agriculture’s Foreign Agricultural Service (FAS) projects the country’s sugarcane crop at 661.4 million mt in 2023/2024, which is 6.5% up on 2022/2023, due to favourable weather conditions and prices. Estimates also state th

View related articles

Go to the News Overview
Sugar
Sep 23, 2021
BRUSSELS/FRANKFURT. EU sugar exports are expected to outstrip imports in the current marketing year. Although the market has certainly rebounded from the impact of the pandemic, sugar manufactures are trying to adopt a cautious approach to the post-pandemic future in 2021/2022. Market prices are also reflecting this development.
Sugar
Jul 8, 2021
MANNHEIM. While Südzucker AG's group revenues increased slightly in the first quarter of the current 2021/22 financial year, group operating profit declined for the time being. For the first time, the quarterly report covers five segments instead of the previous four.
Sugar
Feb 17, 2021
BRUSSELS/FRANKFURT. Market players are sounding the alarm bells over declines in production, particularly in France and in Germany. Concerns are being voiced that Germany's sugar suppliers will not be able meet food industry demand at the end of August. EU-UK trade has also been adversely impacted by Brexit.