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Sugar stocks in the European Union of 27 member states were reported by the European Commission to have reached just over eight million tonnes at the end of November, the lowest level since 2010. Stocks of sugar in the UK are no longer reported, but for comparative purposes are estimated to be 200,000 tonnes.
The level of stocks is a key driver of EU sugar prices. The Commission reported on 27 January that the average price for sugar had fallen to 415 €/t in November 2021, with one standard deviation of 27 €/t. Within the EU27, the differences between region 3 (deficit areas) and regions 1 and 2 remained large. In region 3 in November 2021, an average of 496 €/t was recorded, and 405 €/t in Region 2 (most major production countries) and 410 €/t in Region 1. These average reported prices are based on invoices issued in November, reflecting deals which may have been made months or even years ago.
So called "spot prices" for sugar in the EU continued to rise. In the member states around the Mediterranean Sea, spot prices were seen at around 646 €/t and in the south of Italy prices spot prices have risen to around 660 €/t, Meanwhile, spot sugar prices in the western EU (region 2) were seen around 600 €/t.
Please see below a Power BI report which gives further details as to EU27+UK sugar stocks.