Features International Sugar Journal

Monthly Snapshot July [Full subscriber]

Market overview Fifteen-day average of ISA daily price of 12.93 cents/lb on 20th June suggests that the sugar market is reacting to the impending deficit in 2019/20 highlighted by several respected analysts. The International Sugar Organization recently forecasted a global deficit of about 3 million tonnes, while Rabobank in its latest Q2 report put the deficit at 4.2 million tonnes. FO Licht is estimating a deficit of 3.6 million tonnes raw value (mtrv) in its latest forecast, noting that that global production in 2019/20 may fall to 183.7 mtrv, which would follow on a drop by 14.4 mln tonnes in…

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