Jay Kindred

Jay joined Czarnikow full time in 2021 following a one year internship in 2019. As an intern he focused on the development of tools and dashboards to advance effective communication of data throughout the business and to clients. Jay is currently responsible for analysis of the European sugar sector, alongside contributing premium reports for Czapp and presenting our current market view to clients. He holds a bachelor’s degree in economics from the University of Bath.

It’s Been a Strong Russian Sugar Crop

  • Russian sugar production will be the largest in 3 years.
  • This is despite partial mobilization of the workforce.
  • Russia remains dependent on foreign beet seeds.

Jay Kindred

1 year ago

4 min read

Sugar Futures and Market Data: 5th December 2022

  • Raw and refined sugar futures prices have traded sideways over the last week. 
  • As such speculators have largely maintained their long position for the time being. 
  • Raw sugar producers have paused their hedging regimes with the No.11 off November highs.  

Jay Kindred

1 year ago

2 min read

Can India Export Sugar Today? 1st December 2022

  • We think around 4m tonnes of Indian sugar has been contracted so far in 2022/23.
  • With supply of new crop sugar becoming available, domestic prices in Maharashtra have fallen again.
  • Both raw and white sugar exports are still workable, earning more than sales to the domestic market.

Jay Kindred

1 year ago

1 min read

Sugar Futures and Market Data: 29th November 2022

  • Raw and refined sugar speculators extend their net long positions a third week in a row.
  • However, with the respective futures prices weakening over the last week, it’s unlikely this will persist.
  • The sugar white premium continues to move around the 100USD/mt threshold.

Jay Kindred

1 year ago

2 min read

Can India Export Sugar Today? 24th November 2022

  • The Indian government has permitted 6m tonnes of sugar exports for the 2022/23 season.
  • Domestic white sugar prices in Maharashtra have strengthened slightly over the last week.
  • Both raw and white sugar exports are still workable, earning more than sales to the domestic market.

Jay Kindred

1 year ago

1 min read

Sugar Futures and Market Data: 21st November 2022

  • Raw and refined sugar price increases have stalled after an almost two-week rally.
  • Speculators have recorded largest one week increase to net spec position in the last two years.
  • Raw sugar producers have also reacted strongly to higher prices, adding plenty of new hedges.

Jay Kindred

1 year ago

2 min read

Can India Export Sugar Today? 17th November 2022

  • The Indian government has initially permitted 6m tonnes sugar exports for 2022/23.
  • With world market prices strengthening, both raw and white sugar export margins have grown.
  • The Indian rupee has appreciated back to 81INR/USD.

Jay Kindred

1 year ago

1 min read

Sugar Futures and Market Data: 15th November 2022

  • Both raw and refined sugar prices continued to strengthen over the last week.
  • This offered raw sugar producers’ good opportunity to advance their hedging regime.
  • Sugar speculators also bought into this strength, extending their long positions.

Jay Kindred

1 year ago

2 min read

Can India Export Sugar Today? 10th November 2022

  • The Indian government has announced the first tranche of exports totalling 6m tonnes for the 2022/23 season.
  • At current world market prices, both raw and white sugar exports are viable and can now be contracted.
  • Domestic prices in Maharashtra have softened further as new crop supply begins to become available.

Jay Kindred

1 year ago

1 min read

Sugar Futures and Market Data: 7th November 2022

  • Raw and refined sugar speculators retreat back towards neutrality.
  • Consumers continue to aggressively buy into No.11 weakness.
  • The white premium has slowly recovered back to the 100USD/mt threshold.

Jay Kindred

1 year ago

2 min read

Can India Export Sugar Today? 3rd November 2022

  • The white sugar price in Maharashtra has weakened to 33.8INR/mt over the last week.
  • At the same time raw sugar prices have strengthened slightly to almost 18.5c/lb.
  • This means that by last season’s rules, both raw and white sugar exports would be viable.

Jay Kindred

1 year ago

1 min read