Quarterly Market Outlook - August 2016

Deficit phase to continue in 2016/17
World statistical deficit to increase to 7.0 mln tonnes
Extremely tight trade balance
World sugar stocks to reduce to the lowest level since 2010/11
Global fundamentals support further strengthening of world prices
Most domestic prices yet to follow rises in world market values

Commodity Prices
World Bank still expects prices to fall in 2016…
…despite an upturn in the first half of the year

World Fuel Ethanol
Global production and consumption plateau
Higher mandated inclusion in US market…
… but producers face slim margins
Brazilian output to contract
Higher production and use in smaller mandated markets
Global trade to contract in 2016

Alternative Sweeteners
US HFCS offtake continues to contract
No country has yet authorised commercial use of fermentation stevia sweeteners

Availability to remain limited in key Asian exporters
Poor competitiveness against grains in livestock feed

WTO Update
WTO Director General calls for action on Doha Round

NAFTA: Suspension Agreements revisited
EU-Indonesia negotiations launched
EU-SADC EPA signed
Brexit and sugar


Executive Brief
World Sugar Market
     World Balance
     Export Availability
     Imports Demand
     Brief(16)05 – Trade Balance for Raw and White Sugar
     World Market Events and Prices
     Currency Movements
     Domestic Prices
Commodity Prices
World Fuel Ethanol
     Ethanol Trade
Alternative Sweeteners
     High Fructose Corn Syrup
     Intensive Sweeteners
WTO Update
Regional Trade Agreements
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.
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