El Niño still dominates the global sugar market

게시됨 2024년 2월 8일

Tridge 요약

The futures price for white sugar on the London commodities exchange has dropped by about 100 euros from its October 2023 peak of over 700 euros per tonne. This is due to increased optimism about global sugar production, as recent developments suggest that the impact of El Niño on sugar harvests in Australia, Brazil, India, and Thailand is less severe than initially feared. The current price level is expected to hold in the short term, with a potential slight decrease in the medium term, depending on global harvest conditions.

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원본 콘텐츠

On the commodities exchange in London, the futures price for white sugar rose to a height of more than 700 euros per tonne in October 2023. The price for refined sugar for delivery in March has now fallen again by about 100 euros. This is the result of slightly more optimism about global sugar production. Market analysts initially feared major consequences from El Niño. This weather phenomenon mainly causes more drought and higher temperatures in the southern hemisphere. It would have a significant impact on sugar production in Australia, Brazil, India and Thailand. More optimism In recent months it has become clear that the sugar harvests are less affected than previously assumed. In Brazil there is more optimism about sugar cane yields. Analysts also expect that precipitation in India and Thailand could have a beneficial effect on total production. In the report of the sugar consultation with ...

출처: Nieuwe Oogst