EU sugar prices continue to rise slowly

June 19, 2023

The European Commission today (21 January 2022) reported that the average EU sugar price (based on invoices issued in November 2021) has risen to 420 €/t from 417 €/t in October.

Unlike the prices reported under short-term contracts, the average reported prices may have been negotiated between buyer and sellers months or even years before delivery. Average prices under short-term contracts were around EUR 28 per tonne higher than the average invoiced prices, according to European Commission data published in December last year. Meanwhile, currently, so-called "spot prices" (newly negotiated sales) continued to rise in recent months, according to the Commission. In the countries around the Mediterranean Sea, spot prices were seen around EUR 635 per tonne [presumably delivered], while in the main production countries in the EU (region 2), spot prices were seen around EUR 590 per tonne.