Analyst Insights

• In this week’s Ask the Analyst we answer some of the questions posed during our recent global sugar market webinar.
• If you would like to watch the webinar recording, please follow this link.
• We plan to run our next webinar in Q4 and look forward to seeing you there.

• China has held its first public sugar auction in six years.
• 126.7k tonnes of sugar were auctioned, produced by 7 refineries.
• The results were neutral and more auctions could come.

India is the world’s second-largest producer of sugar. It is also aiming to blend 20% ethanol in gasoline by 2025. This ethanol will be made from sugar cane and various grain feedstocks.

• Liquid sugar and premix imports for 2022/23 reached 1.2m tonnes in sugar eq.
• Liquid sugar is still the cheapest sugar in domestic sugar market.
• It is largely made from Brazilian or Indian white sugar.

• India no exportará azúcar en un futuro próximo.
• El mundo depende peligrosamente de la CS de Brasil para el suministro de azúcar.
• Como consecuencia, los precios son elevados.

• US sugar prices for 2024 continue to creep higher. 
• Louisiana’s cane crop ratings are the worst in a decade. 
• 80% of the state’s cane is under “exceptional drought”.  

Shell, Nestle among companies turning away from carbon offsets 

Media reports raise quality concerns over some carbon reduction projects 

UN and many emerging economies still planning to set up carbon offset markets  

Thailand is emerging as a major biomass supplier. 

Carbon prices and taxes are becoming more widespread. 

Thai biomass can help Asia decarbonize.