- In this week’s Ask the Analyst, we reveal who we think will be the largest raws importer in 2021.
- We also talk about raws demand more broadly, and why it’s been weak this year.
- If you’d like us to answer one of your questions in next week’s edition, please email jack@czapp.com.
Who Will Be the World’s Largest Sugar Importer in 2021?
We think China will be the world’s largest raw sugar importer in 2021, having bought 4.77m tonnes so far.
However, we don’t think its demand will be as strong as was in 2020, when it imported 5.46m tonnes in total.
Raw sugar demand has been poor across the board this year, as a backwardated No.11 market and a weak white premium have deterred buyers.
But in China’s case, raw sugar buying has been particularly weak as buyers were able to use up their stocks, rather than buy at much higher prices.
Going forward, China’s raw sugar demand could weaken further and see Indonesia clinch the title of ‘the world’s largest raw sugar importer’.
If you have any questions, please get in touch with us at Jack@czapp.com
Other Insights That May Be of Interest…
December Trade Flows: India is Ready
Sugar & Omicron: The End of the Trend?
