Overview of current prices and prospects in the world sugar market

In the future, the price vector will be influenced by the El Niño phenomenon, which may have an adverse effect on harvests in India and Thailand The cost of raw sugar (sugar No. 11) on the Intercontinental Exchange (ICE) in the United States increased by 5.5% over the month and amounted to $570.6/t as of May 17. At the London International Financial Futures and Options Exchange (LIFFE), white sugar rose by 3.7% over the month to $706.7/t. On the Zhengzhou Stock Exchange (ZCE, China), quotations increased by 2.0%, the cost of sugar amounted to $1,008.0/t. However, compared to the end of April, when another price peak was reached on the world market, by mid-May they slightly decreased. According to the FAO, the average price of sugar, which has been increasing for three consecutive months, in April reached its maximum since October 2011, and compared to the March level, it was 17.6% more. The positive price dynamics is due to a reduction in supply on world markets in the 2022/2023 ...