MBF Group
Sugar markets remained generally stable in the first quarter of 2024, but have changed in some respects, both globally, in Europe and in Poland. Analysing the latest trends, there are some interesting patterns that are shaping the future of the sector. Global trends in sugar production show a slight increase compared to the previous year, with increased production observed particularly in countries such as India, Brazil and the European Union.
Stable international trade in sugar indicates a continuing balance in global markets, with Brazil, India and the EU continuing to be the main players, and China, India and Indonesia being the largest importers. Sugar prices remained relatively stable at around 20 US cents per pound.
In the European Union, sugar production also increased as a result of favourable weather conditions and an increase in sugar beet acreage. The European Union is exporting more sugar, mainly to Germany, Italy and France, with prices remaining stable, hovering around €500 per tonne.
In Poland, sugar production also increased in the first quarter of 2024, and the country remains a net exporter of sugar, with the main customers in Germany, the Czech Republic and Slovakia. Sugar prices in Poland have remained stable at around PLN 5 per kilogram.
Various factors affect sugar markets, including weather conditions, government policy, reduced consumption and price volatility of other sweeteners such as high fructose corn syrup. The future of the sector will depend on a complex combination of these factors.
Forecasts for the next quarters indicate stability in global sugar production, trade and prices. Despite some changes in production and trade, the outlook for the sugar market remains relatively unchanged, which can provide certainty for investors and suppliers in the coming months.
In summary, the first quarter of 2024 has not seen significant changes in the sugar market, but there are a number of factors that could shape its future. The stability of production, trade and prices gives grounds for optimism, but at the same time it is important to keep an eye on market developments to understand what the long-term effects of these changes may be.
Regarding the immediate future, a general framework of predictions for the next quarters of 2024 can be made based on available data and observations of past trends.
- Stability of production: World sugar production is expected to remain relatively stable in the coming quarters. Continued production growth in countries such as India, Brazil and the European Union may result in a continued supply of sugar on world markets.
- Sugar trade: International sugar trade is also likely to remain stable. Countries that are traditionally major exporters and importers of sugar will continue their trade patterns, helping to keep markets balanced.
- Sugar prices: sugar prices on world markets are likely to remain stable in the next quarters of 2024. Despite some fluctuations due to factors such as weather conditions, government policies or price volatility of other sweeteners, the overall price trend is likely to be rather stable.
- Impact of external factors: The impact of external factors such as climate change, trade policy or the health situation should also be taken into account. Nevertheless, if none of these factors change abruptly, the sugar market can be expected to continue its stable path.
It is also worth bearing in mind that the sugar market can be susceptible to unexpected events, so it is important to keep abreast of current information and to analyse possible changes in the global macroeconomic and political situation.
