Uncertainty about global production causes sugar prices to rise

Published 2024년 8월 30일

Tridge summary

Brazil's sugar production is falling short of expectations due to drought and fires, a report from the European Commission's sugar consultation states. This could have implications for global sugar prices, as the situation in Brazil is causing uncertainty in supply. Despite these challenges, Thailand and India are reporting positive harvests. The European Commission remains optimistic about yields in the EU, despite late sowing dates, but warns of high disease pressure in Western Europe.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Sugar yields in Brazil in particular are disappointing compared to previous forecasts. In the report of the European Commission's sugar consultation, the Netherlands Enterprise Agency writes that production in Central and Southern Brazil is under pressure due to persistent drought and also fires on sugar plantations. According to experts in Brussels, the situation in the country will affect global sugar prices in the coming months. The uncertainty about supply has caused the price of white sugar on the commodity exchange in London to rise again to the level of mid-July. In contrast to the unfavourable reports from Brazil, there is a lot of optimism in Asia about the sugar harvest. Thailand and India in particular are producing more thanks to good growing conditions. According to sugar organisation Isma, there is sufficient supply in India to cancel the export ban. Reasonable yields in the EU For the European Union, the European Commission is sticking to the forecasts for the ...

Source: Nieuwe Oogst