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Analyst Insights

China’s Raws Import Margin Hits 20-Month Low

  • China’s raw sugar import margin is the poorest it’s been since December 2019.
  • High raws prices and costly freight have weakened refiner returns.
  • China could therefore import 1.5m tonnes less sugar than it did in 2020. 

Rosa Li

3 years ago

1 min read

The Mexican Sugar Decline: Taxes, COVID or Something Else?

  • Mexican sugar consumption dropped in 2020 to its lowest level since 2014.
  • The sales value of soft drinks and other non-alcoholic beverages dropped before COVID hit Mexico.
  • The drop in demand therefore can’t be solely attributed to COVID; there are more factors at play here.

Sara Warden

3 years ago

8 min read

CS Brazil: 350 mmt of Cane Harvested so Far

  • Weak harvest and agricultural productivity, but within our expectations
  • Although UNICA mentions 530mmt of cane for the 21/22 crop, our estimates are 520mmt and 32.5mmt of sugar.
  • Anhydrous sales remain strong, totaling 426 million liters in the past fortnight.

Catarina Junqueira

3 years ago

1 min read

Key Tomato Paste Producers Battle with Weather

  • The world should produce 38.8m tonnes of tomato paste this year, down 400k tonnes from 2020.
  • China and the US have both suffered tricky weather conditions.
  • Prices are climbing as supply tightens and packaging becomes more expensive.

Will Langston

3 years ago

1 min read