Analyst Insights

Daily Market Price Updates and Commentary

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• This year’s cyclone season has created chronically wet conditions.
• With persistent rains, sugarcane yields are likely to be affected.
• Farmers are also running up against challenges sourcing labour.

• Investment funds held record net short position at the end of February.
• The net short has shrunk 40% since then as EUAs have rallied EUR 10.
• The market is uncertain whether prices will resume declines after recent gains.

• There are a few well-established production pathways for SAF.
• However, these come with their own benefits and disadvantages.
• More pathways are being approved but scale is proving to be a challenge.

Daily Market Price Updates and Commentary

• Both No.11 and No.5 sugar futures has strengthened in the past week.
• Speculators have been active in the market the past week.
• The K/K white premium has dipped slightly below 160 USD/mt.

• Prices for the India urea tender are expected around the USD 330-340/tonne CFR range.
• Processed phosphate prices are under pressure with increased Chinese supplies.
• The Tampa April ammonia contract price between Mosaic and Yara failed to materialize.

• Brazil opens new markets for agribusiness products with a focus on sustainability.
• The country has the challenge of meeting global demand for sustainability in food exports.
• The intention is to increase exports of products such as cotton, specialty coffees and fruits.

Daily Market Price Updates and Commentary

• China is the world’s largest apple and pear producer by far.
• But domestic food security policies could jeopardise the future of orchards.
• Could the Southern Hemisphere fill in some of the production gaps?

• Thailand should crush 82m tonnes cane this year, in line with previous seasons.
• Farmers are receiving record high prices for their cane.
• 24/25 cane crushing could exceed 100m tonnes.