- The white sugar market reduced last week to 10-year lows, well below USD 300/mt.
- Illustrating the lack of demand caused by high stocks worldwide.
- These prices make it incredibly difficult to produce sugar profitably.
- But many of the world’s biggest producers are protected from the low world market prices by government policies.
- Major changes in production, which are needed to rebalance stocks, are likely to take time or a weather event.