Sugar Prices Remain Stable: Minor Fluctuations in Market Trends

Hamburg, November 19, 2024 (CMB) – Sugar prices remain stable in international markets despite minor fluctuations over the past few days. Both raw and white sugar remain at levels similar to last week, with analysts projecting steady market development.

Current Prices Overview:

• Raw Sugar (ICE Futures U.S.):The price for raw sugar (Sugar No. 11) is 0.4165 EUR/kg, a slight decline from the peaks earlier this month.
• White Sugar (LIFFE):The price for white sugar (Sugar No. 5) is recorded at 0.4999 EUR/kg, a stable level with no significant fluctuations.

Factors Influencing Prices:

• Stable Supply:Favourable weather conditions in major production regions have supported harvest forecasts, ensuring a balanced market environment without extreme price surges.
• Rising Demand in Asia:High demand, particularly in China and India, continues to support prices, contributing to market stability.
• Impact of the US Dollar:Exchange rate fluctuations have moderately affected prices, with a strong dollar slightly increasing export prices.

Market Outlook:

Experts anticipate continued price stability as long as no unforeseen climatic or economic disruptions occur. Asian demand remains a key driver, while favourable conditions ensure robust supply.

Market observers advise closely monitoring developments, especially regarding the upcoming harvest periods and potential changes in global demand.

The prices and assessments are based on market data up to November 19, 2024, and are subject to fluctuations.