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Analyst Insights Analyst Insights Brief Market Overview: Refined Demand Likely to Fall

July 2, 2020

1 min read

Brief Market Overview: Refined Demand Likely to Fall

  • The refined sugar market has fallen by approximately $40/mt in the past fortnight, after reaching four-month highs of $394/mt.
  • The coronavirus continues to impact demand and the threat of second waves and reintroduced lockdowns are doing very little to support sugar consumption.
  • Spec involvement is also the lowest we have seen in recent years, but they could push the market either way if there’s a shift in sentiment.
  • Availability from low-cost producers, Thailand and Europe, will remain limited through 2020 and 2021 due to their poor cane and beet crops.
  • However, the wider white sugar market will remain well-supplied thanks to India, the monsoon arrived on time meaning there are no water shortages this year.
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