The Market in June

A recovery in sugar prices in the final week of June lifted the monthly average marginally above the May low. The June-end expiry of the July NY raw sugar futures contract was seen as supportive, with Brazil exports continuing at speed, while white sugar values moving in sync, except on the day of the expiry.

The ISO published its Quarterly Market Outlook report during the month, showing a larger deficit in 2023/24 of 2.954 mln tonnes, while at the mid-year workshop in New Delhi, India, the outlook for 2024/25 was projected to attain a modest surplus of 1.076 mln tonnes.

Three new studies were also presented covering: Domestic Prices for Sugar, The Southern African Sugar Industry and The Added Value of Quarterly Statistics, which are now available to purchase from the ISO Website.