sugar Archives

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 […]

India’s Sugar Export Policy – A Cautious Wait Until December

Posted on 10 September, 2024

Government Delays Sugar Exports Until… 🔹 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 […]

Global Sugar Prices Drop Amid Rising Cane Production Forecasts

Posted on 9 September, 2024

The global sugar market is… 🔹 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 […]

Sugar Prices Supported by Droughts and Wildfires in Brazil

Posted on 6 September, 2024

Sugar prices are moderately higher today. The October raw sugar contract settled up 0.11 cent, or 0.6%, at 19.49 cents per lb. The October white sugar contract rose 1.8% […]

2024 Sugar Beet Harvest in Germany: Promising Yields Amid Disease Threat

Posted on 3 September, 2024

Germany’s Sugar Production Set to… 🔹 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 […]

India’s Sugar Quota for September 2024. What are its implications for Exporters?

Posted on 2 September, 2024

September 2024 Sugar Quota India’s… 🔹 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 […]

Brazil: Sugarcane milling in the Center-South reaches 44 million tons in the first half of August

Posted on 29 August, 2024

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Brazil’s Sugarcane Boom: New Investments Set to Skyrocket Global Sugar Production

Posted on 16 August, 2024

Sugarcane mills in Brazil are… 🔹 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 […]

Sugar Mills to Boost Turnover: “Focus on Expanding Footprints, Diversification, and Ethanol Production”

Posted on 13 August, 2024

Targeting a 25% Turnover Increase… 🔹 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 […]

International sugar prices fell again in July after beginning to recover in June. On the New York Stock Exchange (ICE Futures US)

Brazil: International Sugar Market Faces Losses in July

Posted on 9 August, 2024

International sugar prices fell again in July after beginning to recover in June. On the New York Stock Exchange (ICE Futures US), raw sugar contracts for October delivery closed the […]

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