Stephen Geldart

Stephen joined Czarnikow in 2008 and leads the Analysis Team, who provide leading-edge coverage of the sugar, ethanol, ingredients and packaging markets primarily on Czapp.com, Czarnikow’s online portal. Czarnikow’s analysis team also provide price risk management services for sugar producers, refiners and consumers, and regularly undertakes strategic consultancy work for energy majors, banks, and agricultural businesses. Before joining Czarnikow, Stephen began his career in the oil refining industry. He holds an MSci in Chemistry from Imperial College London.

What Follows The Sugar Market’s December Collapse?

  • December’s 25% sugar price fall was mild by historical standards.
  • Prices are trying to stabilise near 20c, a historically high level.
  • The market remains extremely fragile to adverse events.

Stephen Geldart

3 months ago

6 min read

Sugar Futures and Market Data: 28th November 2023

  • The index long position in raw sugar has fallen to the lowest level in 6 years.
  • This may indicate indices are rebalancing away from sugar/commodities.
  • Sugar has been in a bull market for 43 months, one of the longest on record.

Stephen Geldart

4 months ago

2 min read

Sugar’s Price Strength in Context & What’s Next

  • The US Dollar and interest rates remain firm.
  • There are signs the commodity trade are losing their bullishness.
  • Sugar prices might be approaching a decision point – will they break higher or lower? 

Stephen Geldart

4 months ago

12 min read

Sugar Futures and Market Data: 20th November 2023

  • The index long position in raw sugar has fallen to the lowest level in 6 years.
  • This may indicate indices are rebalancing away from sugar/commodities.
  • Sugar has been in a bull market for 43 months, one of the longest on record.

Stephen Geldart

4 months ago

2 min read

A Closer Look at Sugar Demand Destruction

  • Sugar prices have been high for all of 2023.
  • We are yet to see reduced sugar demand in the face of high prices.
  • Demand destruction might come from Brazil’s inability to export fast enough.

Stephen Geldart

4 months ago

8 min read