September 2024

Sesame Market Weekly Update: Market Continues to Face Challenges Globally

Posted on 13 September, 2024

India: Mixed Signals with Rainfall Concerns and Improved Prospects In Gujarat, the sesame crop remains in its reproductive stage, with unpredictable rainfall patterns. While the ideal weekly rainfall should range […]

Heavy Rains and Floods Devastate Red Chilli Crops in Andhra Pradesh, Indian

Posted on 13 September, 2024

Major Red Chilli Crops Suffer Severe Damage Heavy rains and floods in India have caused significant damage to red chilli crops in Guntur and other districts of Andhra Pradesh. Andhra […]

Ethanol Boom Drives Record Corn Plantation in Kharif 2024, India

Posted on 13 September, 2024

Record Corn Acreage In the ongoing Kharif season in India, farmers have planted corn over a record area, responding to the growing demand for ethanol and animal feed. This trend […]

Spice Exports from India See Slight Decline

Posted on 13 September, 2024

Chilli Export Decline Pulls Down… 🔹 For logged-out users (not logged in) Please register for a FREE membership to read this report. All reports on CMB News are free to […]

Corn Prices in Ukraine Have Almost Caught Up With Feed Wheat

Posted on 13 September, 2024

Corn prices are rapidly catching… 🔹 For logged-out users (not logged in) Please register for a FREE membership to read this report. All reports on CMB News are free to […]

Peanut Prices Expected to Decline in India

Posted on 12 September, 2024

Favorable Weather to Drive Peanut… 🔹 For logged-out users (not logged in) Please register for a FREE membership to read this report. All reports on CMB News are free to […]

Madhya Pradesh’s Urgent Soybean MSP Call

Posted on 12 September, 2024

The Push for Soyabean Procurement… 🔹 For logged-out users (not logged in) Please register for a FREE membership to read this report. All reports on CMB News are free to […]

Cumin Prices Expected to Rise – Is it a Bullish Trend Ahead for Indian Exporters?

Posted on 12 September, 2024

Recent Price Trends in Cumin… 🔹 For logged-out users (not logged in) Please register for a FREE membership to read this report. All reports on CMB News are free to […]

Rain Delays Yunnan’s Bean Harvest: Will Prices Drop or Stay Steady?

Posted on 12 September, 2024

Yunnan – Feedback from market… 🔹 For logged-out users (not logged in) Please register for a FREE membership to read this report. All reports on CMB News are free to […]

Raw Sugar Prices Face Resistance at 20c/lb Mark Raw sugar prices continue to struggle in their attempt to break through the 20 cents per pound resistance level, despite some positive signals. According to Lívea Coda, a Sugar and Ethanol Analyst at Hedgepoint Global Markets, "Last week, weakness in the energy sector and broader macroeconomic concerns overshadowed some of the bullish signals that had emerged." While sugar prices did see a modest increase after the dollar correction on September 6, triggered by weaker-than-expected U.S. employment data for August, the market remained weighed down by other factors. Notably, the recent news of India potentially banning sugar exports did not have the expected impact, and prices ended the week lower. India's Role in Global Sugar Trade India, the world's second-largest sugar producer after Brazil's Center-South region, has reignited a central question in the market: Will India export sugar this season? The Indian government has indicated its intention to ban exports, aiming to meet its goal of achieving a 20% ethanol blending target by the 2025/26 season. However, the global trade consensus suggests that India’s participation in the sugar market is crucial, especially after Brazil's production took a hit due to recent drought conditions. "The lack of a final decision leaves room for the market, and for us, to remain cautiously optimistic about potential Indian exports, which could ease some of the supply squeeze during the Brazilian off-season," Coda notes. Indian Export Potential Tied to Prices For India to consider exporting sugar, prices would need to rise above the 20c/lb mark. Given the domestic pricing situation and the expected deficit in global trade flows, Indian mills may demand a premium, potentially pushing export parity above 21c/lb. "If the market is willing to pay, wouldn’t the government feel pressured to allow exports?" Coda asks. This is a possibility, particularly if production exceeds estimates, as was the case last season when many predicted a crop below 30 Mt due to the worst August monsoon in a century. However, production ultimately came in at 32 Mt, factoring in ethanol diversion. Cautious Optimism Prevails Despite the uncertainty, market experts remain cautiously optimistic. "A word of caution, however: if any export permission is granted, it will likely come after the new season starts and gains momentum," Coda warns.

Global Sugar Prices Struggle Amid Uncertainty Over Indian Exports and Market Pressures

Posted on 12 September, 2024

Raw Sugar Prices Face Resistance… 🔹 For logged-out users (not logged in) Please register for a FREE membership to read this report. All reports on CMB News are free to […]

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