Insight Focus

  • There is up to 1m tonnes of export volume left uncontracted from the 2021/22 Indian crop.
  • A strengthening No.11 means raws exports are workable again, earning 100 points above the 18.8c/lb parity level.
  • The white sugar export margin has widened to around 80USD/mt, with the No.5 well above the 475USD/mt breakeven point.
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Unsubsidised Spot Export Parity Update

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Other Insights That May Be of Interest…

Sugar Statshot: 2021/22 Crop Finishes Strongly

War, Weather and History – Putting The Wheat Market in Perspective

Market View: Weather Watch


Explainers That May Be of Interest…

Czapp Explains: The Indian Ethanol Industry

Jay Kindred

Jay has worked at CZ since 2019, starting as a market analyst before becoming a trader on the CZ derivatives desk in 2023.

As an analyst Jay had been responsible for providing regular content to our premium sugar analysis subscription as well as presenting our current market view to clients.

Since transferring into a trading role Jay has been developing and expanding CZ’s derivatives risk management offering across a broader suite of commodities and instruments.

He holds a BSc (Hons) in Economics from the University of Bath.

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