Sugar
A second season of considerable global statistical surplus
Further increase projected for world production to record 185.2 mln tonnes
Global use to grow by 1.65%
A global trade surplus is expected in 2018/19
Ending stocks/consumption ratio to grow
World market prices at the lowest level since December 2008
Mixed picture in domestic sugar price dynamics
Special Focus - World bagasse-based cogeneration of energy – an update
World cogen capacity surges 43.5% since 2014
Commodity Prices
FAO Food Price Index fell 3.7% in July, down in all sub-indices.
Oil prices remain at a relatively strong level
World Fuel Ethanol
US production continues at pace, EPA administrator resigns
Brazil draws in record hydrous demand as gasohol remains at BRL4/litre
EU RED II positive for ethanol
Global fuel ethanol trade in 2018 expected to rise, US exports complete record 6 months
Brazil export programme yet to take off
Bioplastics and Biochemicals
Asia-Pacific region has 40% share of market for biodegradable bioplastics
Cogeneration
In Brazil, bagasse-power currently represents 6.7% of the country’s energy matrix
Alternative Sweeteners
US HFCS domestic offtake remains low, while producers are squeezed by higher corn prices
EU isoglucose production quotas removed, output rises modestly
Molasses
EU feed industry challenged by hot weather
Indian molasses prices steady, but next cane harvest only months away
Global molasses trade remains patchy
WTO Update
The next Ministerial Conference has been scheduled
BRICS leaders voice their support for the WTO
RTAs
NAFTA renegotiation remain slow
EU – Merocsur sees little progress
EU – Japan EPA concluded, but with little sugar impact
AfCFTA progressing at Nouakchott meeting
i-iii Executive Brief 1 World Sugar Market 1 World Balance 2 Supply 2 Production 10 Export Availability 12 Demand 12 Consumption 14 Import Demand 16 Brief(18)05 – Trade Balance for Raw and White Sugar 17 World Market Events and Prices 20 Currency Movements 22 Domestic Markets and Prices 24 Special Focus 24 World bagasse-based cogeneration of energy – an update 29 Commodity Prices 31 World Fuel Ethanol 31 Overview 32 Production 35 Consumption 37 Ethanol Trade 39 Prices 41 Bioplastics and Biochemicals 42 Cogeneration 43 Alternative Sweeteners 43 HFCS / Isoglucose 46 Intensive Sweeteners 47 Molasses 50 WTO Update 51 Regional Trade Agreements 52 World Sugar Balance Estimates The views expressed in this document are those of the ISO Secretariat. They do not necessarily represent the views of the ISO Members.