China bans imports of sugar syrup from Thailand and market falls this Tuesday morning (25)

On Tuesday morning (25), the sugar market is operating close to stability, with the May/25 contract traded at 19.48 cents per pound and the July/25 at 19.11 cents. Since the beginning of the year, the sector has faced instability, driven mainly by the Indian harvest, which initially indicated a possible recovery, but now shows lower production potential. This scenario caused sugar prices to go from the 17 cents range in January to the current 19 to 20 cents. In addition to monitoring production, the market is now monitoring the quality of processes in India. Recently, China banned the import of sugar syrup from Thailand, a measure that could generate an estimated impact of US$ 60 million for Thai companies. Roberto Rossi, business director at Coplacana, believes that, despite the market volatility, prices remain stable and profitable. “Overall, we will have a smaller harvest this year, but prices are compensating, which has led producers to invest in inputs to ensure good ...