Sugar
World statistical deficit for 2019/20 revised marginally lower to 9.3 mln tonnes
Global output falls by 7.7 mln tonnes, even though Brazil production increases by 6.0 mln tonnes
Consumption to grow by 2.2 mln tonnes excluding our interim assessment of Covid-19
Stock releases reduce trade deficit to 0.3 mln tonnes
World prices decrease by 31% in last three months
White sugar premium remains above USD100/tonne
Hedge funds switch from long to short side
Mid-Term Review projects a 6.9 mln tonne deficit in 2020/21
USD strengthens while BRL depreciates to record low
Mexico’s domestic prices rise to record level
Commodity Prices
Commodity prices have reacted to the coronavirus pandemic
WTI oil prices trade a negative value
Agricultural commodity prices fall
Fuel Ethanol
The spread of the coronavirus significantly impacts global fuels supply and demand
World production in 2020 revised lower to 101.7 bln litres
Global consumption to fall to 100.0 bln litres
Several producers worldwide switch to production of industrial grades
Bioplastics and Biochemicals
Bioplastics production set to rise from 2.11 mln tonnes in 2019 to 2.43 mln tonnes in 2024
Cogeneration
In Brazil, bagasse-based electricity sold to the national grid in 2019/20 increased 2.3%
India’s 2019/20 bagasse-based electricity sold to grid below last season
Alternative Sweeteners
In 2019 US HFCS consumption totalled 6.680 mln short tons, down 2.45%
HFCS-42 usage dropped to 2.158 mln short tons
Usage of HFCS-55 fell to 4.521 mln short tons
Molasses
Cane molasses price rise to USD226/tonne in January 2020, reached a 10-year high
Beet molasses price increased to USD165/tonne in March 2020
WTO Update
WTO economists projected global trade to fall by 13% across all sectors, due to the coronavirus pandemic
RTAs
USMCA signed by all three parties bringing its implementation closer
US / China trade faces a new challenge, as the pandemic sours the relationship between the world’s two biggest economies
i-iii Executive Brief iv Brief(20)02 – COVID-19 Impact 1 World Sugar Market 1 World Balance 2 Supply 2 Production 11 Export Availability 13 Demand 14 Consumption 15 Import Demand 17 Brief(20)03 – Trade Balance for Raw and White Sugar 18 Brief(20)04 – Mid-term Review 19 World Market Events and Prices 22 Currency Movements 24 Domestic Prices 26 Commodity Prices 28 World Fuel Ethanol 28 Overview 29 Production 31 Consumption 32 Trade 33 Prices 36 Bioplastics and Biochemicals 37 Cogeneration 38 Alternative Sweeteners 38 HFCS / Isoglucose 41 Intensive Sweeteners 42 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.