- In this week’s Ask the Analyst, we share our estimates for Thai sugar exports in 2021/22.
- Thailand’s mills can earn more by producing raw sugar for export at present.
- If you’d like us to answer one of your questions in an upcoming edition, please email jack@czapp.com.
How Much Sugar Will Thailand Export in 2021/22?
We think Thailand will export 7.2m tonnes of sugar in 2021/22, with the remaining 2.8m tonnes being used to satisfy domestic demand, which seems to be recovering as COVID lockdowns are avoided.
The premium for refined sugar over raws is weak at present, whilst the No.11 is much stronger than it’s been recently. Thailand’s mills can therefore earn more by producing raw sugar for export.
Thailand should therefore export 4.2m tonnes of raws and 3m tonnes of whites this season.
It’s also still proving difficult to secure shipping containers in East Asian region, which means white sugar shipments are trickier to organise than raws, which are moved in bulk vessels.
If you have any questions, please get in touch with us at Jack@czapp.com
Other Insights That May Be of Interest…
The World Needs More Sugar…Can Thailand Help?
Thai Sugar Consumption…Has it Peaked?
Our Thai Road Trip: The Future Looks Bright for the Thai Cane Industry
