Global white sugar 20 percent more expensive in 2021

Published 2022년 1월 7일

Tridge summary

The international sugar market in 2021 saw prices approaching levels not seen since the past five years, with concerns about economic impacts of increasing coronavirus infections leading to fluctuations. The global sugar stock is projected to decrease for the second year in a row, with the European Union experiencing a decrease in its theoretical closing stock despite higher production forecasts. Rabobank predicts a 5-10% increase in sugar prices in 2022 due to high energy costs, with the price of ethanol in Brazil being a key factor in the international sugar market. The bank has outlined three scenarios for the sugar market, each with varying supply and demand factors.

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

Original content

At the beginning of 2021, the international commodities exchange in London was still trading around 370 euros for 1 tonne of white sugar. In the first week of 2022, this quotation will approach 445 euros per tonne. The sugar price is therefore comparable to the level of five years ago. Incidentally, the international sugar market already reached its highest quotation in 2021 around mid-November, with 466 euros per tonne. The fact that the current quotations are slightly lower is a result of concerns about economic developments due to the re-increasing corona infections in various parts of the world. Raw sugar prices in particular fell at the end of December when it was announced that the omikron variant had also reached Brazil. Analysts expect this to affect price developments in the sugar market in the coming months. The Netherlands Enterprise Agency (RVO.nl) recently wrote in the report of the Brussels sugar consultation that the European Commission assumes that more ethanol ...

Source: Nieuwe Oogst