Current Sugar Market Report: ICE Sugar No. 5 Records Significant Losses

---

1. Market Developments (As of December 9, 2024)

ICE Sugar No. 5 futures experienced notable losses across all contracts on December 9, 2024. Closing prices in EUR (based on an exchange rate of 1 USD = 0.92 EUR) are as follows:

• March 2025: €510.60/t (-1.08%)
• May 2025: €508.76/t (-1.07%)
• August 2025: €495.70/t (-1.21%)
• October 2025: €484.10/t (-1.18%)
• December 2025: €480.06/t (-0.96%)

---

2. Observations and Trends

• Downward Movement: The steepest declines were seen in mid-term contracts (August and October 2025), reflecting broader market adjustments.
• Trading Volume: The March 2025 contract remains the most liquid, with over 6,800 units traded.
• Global Dynamics: The losses may indicate continued oversupply and potential reductions in demand.

---

3. Developments in the EU Sugar Industry

• EU Prices: Despite the losses in ICE markets, EU sugar prices remain stable, ranging between €0.50 and €0.54/kg.
• Ukrainian Sugar: The upcoming duty-free imports from Ukraine continue to exert pressure on EU prices and may influence market dynamics in early 2025.

---

4. Recommendations

• For Traders: The price drops present opportunities for cost-effective purchases, particularly in near-term contracts (March and May 2025).
• For Producers: Incorporate the recent price movements into hedging strategies for future sales.
• For Investors: The downward trend could offer short-term trading opportunities as prices stabilize.

---

The significant losses in ICE Sugar No. 5 in the future highlight ongoing challenges in the global sugar market. To navigate these dynamics effectively, market participants should closely monitor developments in supply, demand, and trade policies.