EU sugar prices rise a little

Reported EU sugar prices rise 9 €/t to 388 €/t EXW in January, the European Commission reports

Reported EU sugar prices rise 9 €/t to 388 €/t in January 2021 to the highest level since the end of 2017.

The European Commission DG AGRI reported on 25 March 2021 a small rise in average sugar prices from 379 €/t to 388 €/t EXW in bulk. These average reported prices exclude the UK as from November 2021.

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Sugar prices in the "deficit area" Region 3 were little changed at 443 €/t, a premium of 55 €/t above the average, hence the price rise reported for January was almost entirely due to prices rises in Regions 1 and 2.

World market prices have been quite volatile recently, with spot month New York futures reaching a high of nearly 19 ¢/lb (basis March 2021 delivery), before falling back to 15.19 ¢/lb on 26 March (basis May 2021 delivery), leading to a spike in EU import parity prices despite a recently weaker US dollar / euro exchange rate.

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