Insight Focus

  • We think India will export around 8m tonnes of sugar from the upcoming 2022/23 crop.
  • At today’s prices raw sugar exports would be unlikely without physical premiums, however white sugar exports would be workable.
  • The No.11 is 100 points below the domestic market, whilst the upcoming Mar’23 No.5 contract is currently 40USD/mt above the domestic market.
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Spot Export Parity Update

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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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