Sugar
World statistical deficit for 2019/20 revised to 9.4 mln tonnes
Global output falls by 8.4 mln tonnes
Consumption to grow by 2.3 mln tonnes
Stock releases reduce trade deficit to 0.4 mln tonnes
World prices increase by 18% in last three months
White sugar premium reaches USD80 in January
Hedge funds switch to long side
Commodity Prices
Oil prices tumble in 2020
Agricultural commodity prices rise in fourth quarter 2019
Fuel Ethanol
Global production and consumption reaches record in 2019
2020 production projections point to small contraction, while consumption expected to rise
Production in Brazil set to fall, as mills allocate mix towards sugar
Consumption outlook supported by US E15 prospects
Global ethanol trade fell in 2019, driven by lower US exports for the first year since 2012
Bioplastics and Biochemicals
Bioplastics production set to rise from 2.11 mln tonnes in 2019 to 2.43 mln tonnes in 2024
PLA production accounted for 14% of global production in 2019
Cogeneration
Brazil’s bagasse-based electricity sold to the grid rose 4.3% in 2019.
In 2019, India’s bagasse-based electricity sold to the grid fell 10%.
Alternative Sweeteners
US HFCS consumption declines by 1.67% in 2019
Higher sugar prices open window for higher HFCS sales in US and possibly EU
Chinese saccharin production rebounds 8.4% in 2019, but remains below 2017 total
Molasses
Domestic use of molasses is rising
Cane molasses prices converge with equivalent raw sugar values
Philippine imports push up Asian molasses demand
WTO Update
WTO members commence preparations for 12th ministerial conference
RTAs
EU negotiations with ACP countries will commence in earnest
USMCA is signed by the US, bringing its implementation closer
US-Kenya negotiations could have impact on African agreements
i-iii Executive Brief 1 World Sugar Market 1 World Balance 2 Supply 2 Production 10 Export Availability 12 Demand 13 Consumption 14 Import Demand 16 Brief(20)01 – Trade Balance for Raw and White Sugar 17 World Market Events and Prices 20 Currency Movements 22 Domestic Prices 24 Commodity Prices 26 World Fuel Ethanol 26 Overview 26 Production 28 Consumption 29 Trade 30 Prices 32 Developments in Selected Countries 35 Bioplastics and Biochemicals 36 Cogeneration 37 Alternative Sweeteners 37 HFCS / Isoglucose 40 Intensive Sweeteners 41 Molasses 46 WTO Update 47 Regional Trade Agreements 48 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.