After updates February's high, the price of sugar has turned down

2021-03-15 12:01:05
Machine translation
After updates February's high, the price of sugar has turned down

In February, the average price Index FAO sugar increased in comparison with January 6 points, or 6.4% to the highest since April 2017, level – 100,2 p.

 

the Growth of prices for cane sugar for the exchange in USA to 383 $/t and white sugar on the stock exchange in London to 490 $/t caused by concerns about supply shortages in the season 2020/21 due to reduced production of the major producing countries and the increased demand from Asia. Higher prices contributed to the logistical problems with the supply of sugar from India and the sharp increase in oil prices, resulting in Brazil, which is the world's largest exporter of sugar, a large part of the sugar cane goes to ethanol production.

 

during the month of March the price of cane sugar decreased by 8% to 354 $/ton, and white sugar on the stock exchange in London – 6.5% up to $460/ton on forecasts of production restoration in Thailand and a record harvest in India in 2020/21 MG.

 

Starting in 2016, the world price of sugar decreased by 48% on the back of oversupply and global trends of healthy eating, which implies a reduction of sugar consumption. In Ukraine in the last 5 years, consumption of sugar for 1 person declined by 19% and amounted in 2019 28,8 kg per year.

 

In 2020 Ukraine has reduced compared to the previous year, the production of sugar by 34% to 982 thousand tons due to the reduction of domestic consumption and export demand amid higher prices than Russian or cane sugar.

 

According to the SMS, in the period January-February 2021, sugar exports from Ukraine decreased compared to the same period last year, from 25.9 to 2.06 million tonnes, but only in the season 2020/21 made 70,87 thousand tons, which is 1.5 times higher than 47.8 thousand tons of 2019/20 season. The main buyers of domestic sugar Israel (47,47%), Germany (33,43%) and Moldova (14,42%).

 

in January-February 2021 Ukraine increased imports of sugar beet to 6.2 thousand tons due to higher domestic prices to 20-21 UAH/kg or 714-750 $/t, which is much higher than prices in the European market. The main suppliers of sugar to Ukraine are Poland (52,39%), France (18,51%) and Lithuania (17,85%).

Visitors’ comments (0):