News

Sugar: India needs a combination of positive factors to return to exporting in 2024/25, says Hedgepoint

Sugar
Brazil
India
Market & Price Trends
Published Feb 20, 2024

Tridge summary

India may resume sugar exports in the 2024/25 harvest season, provided there is no diversion to ethanol, adequate stock, and a recovery in harvest, says Lívea Coda, a sugar and ethanol analyst at Hedgepoint. However, she predicts that India's export levels will not reach record highs. With India's absence from the global supply, sugar prices are primarily influenced by the weather in Central-South Brazil and the La Niña climate phenomenon. Hedgepoint's estimate for the 2024/25 sugarcane harvest in the Center-South remains at 620.1 million tons.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

By Leandro Silveira São Paulo, 02/19/2024 - India should only return to exporting sugar in the 2024/25 harvest if a combination of positive factors occurs. The assessment is from Hedgepoint's sugar and ethanol analyst, Lívea Coda, who pointed out challenges for the Asian country's return to the international sweetener market. "If nothing else is diverted to ethanol this harvest, India builds enough stock and has a recovery in its harvest, we could see the country exporting, although nothing close to its record levels", he stated, during a presentation on the sugar market, on Friday (16). With India out of global supply, the weather in Central-South Brazil is the main variable to be monitored at the current time by those operating in the sugar futures market, according to Coda. For her, the climate in Brazil and the La Niña climate phenomenon can cause the biggest variations in prices. "The scattered rains in the Center-South of Brazil and La Niña make forecasts more difficult," ...
Source: Broadcast
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