- FOB values worldwide remain strong for the majority of the markets.
- Brazil’s supply is the big bet/guess and premiums reflect this.
- The European market is very pessimistic for next season’s exports.
FOB values worldwide remain strong for the majority of the markets. Brazil’s supply is the big bet/guess and premiums reflect it on both whites and raws markets. The European market is very pessimistic for next season’s exports and FAS offers for Q4 reflect it well: consider V+185/190 for EU45 sugar Fas DKK/Le Havre with EUR1.
Indian coming crop is not so clear yet, resulting in wide spreads between buyers and sellers. Thai next season is already quite active on raws with good volatility over the last few months with March/May 15th having swung from low 60s Vs H to H+95 at the time of this report.
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