Market info - sugar
Spot demand for sugar remains very high due to economical recovery and good resistance in several sectors (bakery, dairy and beverages). Availability is very tight or not existent. We are still far from the new harvest (5 months) and weather conditions will have some effects to determine the start of the new crop and the consequence vs junction between old crop and new crop.
For 21/22 market remains in structural deficit of +- 1.7 million T for next year and there is a necessity to import a higher quantity in a context of world market pricing rising.
Other factor to consider is the competition with other crops. Grains gained again last week. It reinforces the necessity to (re) value the beet price to maintain on mid and long term a similar acreage.
Finally, on the industrial side the whole sugar industry is now supporting the inflation of raw material and commodities (electricity, gas, limestone…)