Tridge summary
Sugar prices in the European Union, especially in Italy, are witnessing a deflationary trend with a drop of over 30% from mid-2023 records due to improved stock levels, resolution of the energy crisis, and a stronger euro. On the other hand, the prices of extra-virgin olive oil have slightly decreased after hitting new highs in mid-January. Despite increased production in Spain, the low stock levels have left the market extremely fragile. These insights are provided by Areté, an Agri-Food Intelligence Company.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Market: SUGAR In a context of international prices still supported by uncertainty regarding the future level of Asian supply (a crucial production and export area), in the EU prices instead consolidate a marked deflationary trend. In Italy, sugar prices, compared to the records of mid-2023 at over €1,150/t, have fallen by over 30%, reaching values slightly lower than €800/t. The declines are not only attributable to the improvement in stock levels in the EU (greater supply and contracting demand), but also to the calming of the energy crisis (lower costs of production inputs) and to a greater purchasing power of the euro compared to 2022 (cheaper imports). Market: EXTRA-VIRGIN OLIVE OIL After the rebound phase which led the prices of national and EU extra-virgin olive oil to reach new records in mid-January (+18% and +21% respectively compared to mid-November prices), the first bearish cues (-2% in the following two weeks). The interruption of the uncontrolled upward trend is ...
Source: Agricolae
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