Sugar Market situation - European Commission · 2021. 8. 3. · Marketing year 2020/21 –update 22...
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Sugar Market situation AGRI G 4 - Committee for the Common Organisation of Agricultural Markets 26 August 2021
Transcript of Sugar Market situation - European Commission · 2021. 8. 3. · Marketing year 2020/21 –update 22...
SugarMarket situation
AGRI G 4 - Committee for the
Common Organisation of Agricultural Markets
26 August 2021
World Sugar Market
• Euro – Dollar
exchange rate:
1 € = $1.17
• One month ago:
1€ = $ 1.18
Exchange rates (20/08/2021)
• Euro – Real
exchange rate:
1 € = 6.36 Real
• One month ago:
1€ = 6.16 Real
Exchange rates (23/07/2021)
World prices
• Raw sugar peaked at 20.17 cents on Wednesday 18 Aug. 21, its highest in nearly
4 years
• White sugar also hit a contract high of $504.5 on
Wednesday 18 Aug. 21
• White premium -5.29 $/t compared to last month
World prices
• White sugar (20/08/2021 vs. 23/07/2021)
• Oct. 21: 483.5 $/t ( +5.6%; 414.3 €/t)
• Dec.21: 496.5 $/t ( +5.2%; 425.4 €/t)
• Raw sugar (20/08/2021 vs. 23/07/2021)
• Oct. 21: 19.58 $cts/lb ( +7.8%; 369.9 €/t)
• Mar. 22: 20.25 $cts/lb ( +8.9 %; 382.5 €/t)
White premium: around 51.8 $/t on Oct. /Oct. basis (white/raw).
World prices
World prices
SugarPrice reporting
26 August 2021
AGRI G 4 - Committee for the
Common Organisation of Agricultural Markets
• Increase by
EUR 1 per tonne
compared to
previous month
• Increase by
EUR 18 per tonne
compared to June
2020
EU market price for white sugar
London N°5 (Jul. 2021):
• + EUR 7 per tonne
compared to previous
month (+1.9%)
• + EUR 67 per tonne
compared to
Jul 2020 (+21.8%)
EU market price for white sugar compared with World price London N°5 (first future - $/t - €/t)
EU and Regional market prices for white sugar
Differences between EU average price
and regional average prices
• + EUR 18 / 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
(1) Average weighted by quantities
(2) Standard deviation weighted by quantities
EU (EU27 + UK from Feb. 20 to Nov. 20)
Region 1Region 2 Region 3average (1)std dev (2) average (1)average (1) average (1)Marc h 2020 375 40 383 364 445April 2020 379 39 384 371 451May 2020 375 40 386 363 453June 2020 379 39 380 367 458July 2020 378 38 378 367 463August 2020 378 41 383 365 465September 2020 376 41 381 362 459October 2020 381 35 378 371 451November 2020 379 33 382 369 445December 2020 379 30 380 367 444January 2021 388 29 386 378 443February 2021 390 28 391 380 454Marc h 2021 394 25 386 388 450in €/t EU
June 2020 379 39 380 367 458
July 2020 378 38 378 367 463
August 2020 378 41 383 365 465
September 2020 376 41 381 362 459
October 2020 381 35 379 371 451
November 2020 380 33 384 369 445
December 2020 379 30 381 367 444
January 2021 388 29 386 378 443
February 2021 390 28 391 380 454
March 2021 394 25 386 388 450
April 2021 395 24 389 387 455
May 2021 396 25 390 387 455
June 2021 397 24 392 389 456
EPA / EBA average import price
SugarTrade statistics
AGRI G 4 - Committee for the
Common Organisation of Agricultural Markets
26 August 2021
Imports EPA / EBA in 2020/2021
Imports EPA / EBA in 2020/2021
• EPA /EBA
imports are very
low compared to
last year
Imports EPA / EBA in 2020/2021
Imports EPA / EBA in 2020/2021
• Brexit
apportionment:
• Brazil
308 518 (- 25 536 t)
• Erga omnes
260 389 t (- 29 588 t)
Sugar TRQs 2020-2021 (EU + UK from 1/2/20 to 31/12/20) (23/08/21)
Sugar TRQs 2020-2021 (EU 27) (23/08/2021)
EU Sugar Imports
EU Total imports
EU Total imports
EU Total imports
• By end of June 2021
EPA/EBA origins are
representing 39% of total
imports.
EU Total imports (2020/2021 - 9 m. - 1.045 m t - EU 27 MS)
Source: EUROSTAT
Volume
('000 tonnes)
Share
(%)
Spain 278 27
Italy 204 20
Romania 101 10
Bulgaria 86 8
Portugal 63 6
Total EU 1 045
Top five importers of sugar
(70% share)
EU Sugar Exports
EU Total exports
EU Total exports
EU Total exports (2020/2021 – 9 m. - 0.640 m t - EU 27 MS)
Source: EUROSTAT
Volume
('000 tonnes)
Share
(%)
France 229 36
Belgium 94 15
Germany 91 14
Poland 85 13
Denmark 61 10
Total EU 640
Top five exporters of sugar
(87% share)
EU White sugar exports
EU Sugar Trade
• 2019/20 trade
deficit more than 3
times higher than
the previous
marketing
• 2020/21 trade
deficit forecast for
EU27 at 0.700 m t
EU Sugar trade (EU27+UK from 1/2/2020 to 30/12/2020)
EU imports from the UK (2020/2021 - 9 m. - 0.039 m t - EU 27 MS)
Source: EUROSTAT
Volume
('000 tonnes)
Share
(%)
Ireland 15 38
Greece 9 22
Italy 7 18
Netherlands 2 5
France 2 4
Total EU 39
Top five importers of sugar
from the UK (87% share)
EU exports to the UK (2020/2021 - 9 m. - 0.156 m t - EU 27 MS)
Source: EUROSTAT
Volume
('000 tonnes)
Share
(%)
France 110 71
Netherlands 14 9
Spain 9 6
Portugal 8 5
Belgium 8 5
Total EU 156
Top five exporters of sugar
to the UK (95% share)
EU Isoglucose
EU Isoglucose production
EU Sugar stocks
• Stocks since December
2020, correspond to
EU27
EU Sugar stocks
EU Sugar stocks
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.”
