For the first time in 40 years the world has decreased the consumption of sugar

2020-06-16 13:10:41
Machine translation
For the first time in 40 years the world has decreased the consumption of sugar

In may 2020 sugar price has continued moving in a bearish trend. Competition on the world sugar market has intensified after the entry of new players, in particular Russia, which has become a net exporter of these products.

 

Recall that the decline in sugar prices began in February, in March they lost about 20% in April, the decline has slowed, and in the first half of may exceeded 5%. In the second half of may, prices recovered slightly, however, to previous levels is still very far away. By the end of may quotes sugar on the ICE futures exchange fell 0.5% from 0,1097 to 0,1091 $/lb.

 

Governments and health authorities of many countries over many years trying but in vain to reduce the global consumption of sugar. And only pandemic coronavirus dramatically changed the situation, significantly reducing consumer demand for products with a high sugar content, reports BNN Bloomberg.

 

According to Czarnikow Group, the closure of establishments, sport centers and cinemas in most countries will lead to lower demand for goods that contain sugar, for the first time in 40 years. The sale of drinks and confectionery from Coca-Cola Co and Nestle SA have already fallen, and despite gradual economic recovery, the demand for them will increase to the initial level. According to experts, in the movie, people consume more sweet drinks or other sweets than during a home viewing of the film.

 

In the first three weeks of April, sales of Coca-Cola fell by 25%, and the company expects even lower sales in the second quarter due to the pandemic. About this trend report PepsiCo Inc.

 

the Pandemic deepened the difficult situation in which it was the sugar industry. Demand growth in recent years has slowed, primarily due to developing countries. So, the governments of Thailand and South Africa have imposed taxes on sugary drinks, and doctors urged people to reduce their carbohydrate intake to avoid obesity.

 

estimates Czarnikow Group, this season the consumption of sugar fell 1.2% to 169.9 million tons And World sugar organization has said that the crisis is almost impossible on projected 2020 consumption growth, leading to significant losses.

Visitors’ comments (0):