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Analyst Insights

Strong Chinese Corn Purchases Couldn’t Save Market from Falling

  • China may need to import around 10m tonnes of corn next season. 
  • Its corn purchases were strong last week, but this couldn’t save the market from falling. 
  • China should continue to play a major role in price behaviour as it continues to buy grains to fulfill the Phase One Trade Agreement and its needs. 

James Brittain

4 years ago

1 min read

Bangladeshi Sugar Imports to Slow After Record Q1

  • Bangladesh has imported 1.9m tonnes of raw sugar so far in 2020, up 20% year-on-year.
  • This is an unusually large amount for Bangladesh to import but record imports in Q1’20 left stocks high as coronavirus battered sugar consumption. 
  • We think imports will now slow down until domestic stocks reach a comfortable level. 

Fiona Tan

4 years ago

1 min read

Can India Export Sugar Today? 3rd September 2020

  • With the No.11 futures on a downtrend this week, raw sugar exports have slipped back into unviable territory; 13.3 c/lb is where we will see raw sugar exports become competitive. 
  • The No.5 futures have kept their range this week, allowing Indian whites exports to stay within the positive range. 
  • The USD/INR FX has strengthened this week and reduced the attractiveness of exports. 
  • Note: India has now sold its quota for the year meaning these levels are now indicative.

Fiona Tan

4 years ago

1 min read

The Indian Monsoon: Strong Rains Continue in Most Regions

  • India’s monsoon rainfall continues at a strong pace.
  • Rainfall is above average in all of India’s key cane growing regions, apart from Uttar Pradesh.
  • India is still on track to produce 32.5m tonnes of sugar in 2020/21, just 500k tonnes shy of the record.

Fiona Tan

4 years ago

1 min read

NEW! Freight Rates Nearly Triple After Strong Q2 Agricultural Exports

Peter Sand

Peter Sand

4 years ago

3 min read

Chart of the Fortnight: Japan’s Sugar Consumption Hits 40-Year Low

  • Japan’s sugar consumption is at its lowest level in over 40 years.
  • This year, it will total just 1.9m tonnes, down 70k tonnes year-on-year.
  • It’s dwindling population, poor production, changing consumer tastes, and the more recent COVID lockdowns have caused this drop.

Will Langston

4 years ago

1 min read