sugar market situation - european commission · 2020-05-11 · 2019/2020 - sugar production...
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SugarMarket situation
AGRI G 4 - Committee for the
Common Organisation of Agricultural Markets
28 May 2020
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World Sugar Market
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• Euro – Dollar
exchange rate:
1 € = $1.090
• One month ago:
1€ = $ 1.080
Exchange rates (22/5/2020)
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• Euro – Real
exchange rate:
1 € = 6.09 Real
• Recent sharp
depreciation of the
Brazilian currency
– the real hit a
record low mid-May
• One month ago:
1€ = 6.01 Real
Exchange rates (22/5/2020)
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World prices
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• Raw near 2 month high
after hitting a record low
of 9.21 Cts on Monday
27/4/20, its lowest in
Dollar since 12 years
(June 2008)
• May raw all-time record
delivery near 2.26
million tonnes against
the expiration of the May
contract
World prices
• White sugar (22/5/2020 vs. 24/4/2020)
• August 20: 366.9 $/t ( + 15.6 %; 336.5 €/t)
• October 20: 343.9 $/t ( + 11.2 %; 315.4 €/t)
• Raw sugar (22/5/2020 vs. 24/4/2020)
• July 20: 10.93 $cts/lb ( + 11.4 %; 221.0 €/t)
• October 20: 10.93 $cts/lb ( + 8.5 %; 221.0 €/t)
White premium: around 126 $/t on August/July basis (white/raw).
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World prices
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World Market News
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• The statistical global
deficit has been
revised upwards to
9.435 million tonnes.
• This is the biggest
deficit in
11 marketing years.
• Next update by end
of May
World Market News ISO 02/2020
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SugarPrice reporting
AGRI G 4 - Committee for the
Common Organisation of Agricultural Markets
28 May 2020
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• + EUR 4 / tonne
compared to
previous month
EU market price for white sugar
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• + EUR 61 / tonne
compared to
previous year
EU and Regional market prices for white sugarCommission Regulation - R 2017/1185 Art. 12 (a) - Annex II 1.
Region 1 Region 2 Region 3
average (1) std dev (2) average (1) average (1) average (1)in €/t
EU
March 2019 314 33 321 304 365
April 2019 319 31 324 311 365
May 2019 320 31 325 309 361
June 2019 321 33 325 311 383
July 2019 320 35 324 308 386
August 2019 320 32 321 310 381
September 2019 328 31 333 316 375
October 2019 332 38 338 320 399
November 2019 334 39 345 321 403
December 2019 342 43 357 326 409
January 2020 360 48 368 347 445
February 2020 - EU+UK 371 47 379 358 450
March 2020 375 40 383 364 445
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EU and Regional market prices for white sugar
Differences between EU average price
and regional average prices
+70
-11+8
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London N°5:
• - EUR 16 / tonne
compared to
previous month or
- 5%
• - EUR 78 / tonne
compared to 2
months ago (-20%).
EU market price for white sugar compared with World price London N°5 (first future - $/t - €/t)
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EPA / EBA average import price
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SugarTrade statistics
AGRI G 4 - Committee for the
Common Organisation of Agricultural Markets
28 May 2020
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EU Sugar Preferential Imports
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• EPA /EBA
imports are 17%
lower than last
year
Imports EPA / EBA in 2019/2020
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Imports EPA / EBA in 2019/2020
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Imports EPA / EBA in 2019/2020
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Sugar TRQs 2019-2020 (EU + UK from 1/2/20) (20/5/2020)
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Sugar TRQs 2019-2020 (EU + UK from 1/2/20) (22/5/2020)
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EU Sugar Imports
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EU Total imports
• Average
monthly imports
in March and
April 2020 are
below previous
months
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• By nearly end
of May total
imports in
2019/20 are 6%
higher than last
year at the
same period
EU Total imports
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EU Total imports
• By end of March 20
EPA/EBA origins are
representing half of
total imports.
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• Top 3 = 63%
In thousand tonnes:
• SP: 269 or 26%
• UK: 208 or 20%
• IT: 177 or 17%
EU Total imports (2019/2020 - 6 m. - 1.042 m t - EU + UK from 1/2/20)
Source: EUROSTAT
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EU Sugar Exports
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EU Total exports
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EU Total exports
• By mid-May total
exports in 2019/20 are
57% lower than last
year at the same time
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EU Total exports (2019/2020 – 6 m. - 0.464 m t - EU + UK from 1/2/2020)
• Top 3 = 68%
In thousand tonnes:
• BE: 126 or 28%
• FR: 113 or 24%
• PL: 79 or 17%
Source: EUROSTAT
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EU White sugar exports
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EU Sugar Trade
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• By end of March
2020 trade deficit
already higher
than last
marketing year:
• Already -0.58 m t
after 6 months
compared to
-0.3 m t in 2018/19
EU Sugar trade (EU + UK from 1/2/2020)
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EU Isoglucose
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EU Isoglucose production
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EU Sugar stocks
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EU Sugar stocks
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EU Sugar stocks
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Thank you
Disclaimer:
“The United Kingdom is no longer a Member State of the European Union, however where it is deemed relevant (e.g. for comparison
purposes) an EU+UK aggregate may still be displayed.”