Nordzucker Post 05/2020 - 8 October 2020

World market prices remain at a low level – balanced EU market expected

According to higher estimates at the beginning of the year, a global deficit of about 6 million tons is still expected
for the past 2019/20 sugar marketing year. For the sugar marketing year 2020/21, analysts’ forecasts range from a small deficit to a slight surplus, which is mainly due to an expected increase in production in the two largest sugar producing countries – India and Brazil.

The world market price fell to a level of around € 300/t with the Corona pandemic and has remained at a low level ever since. Prices in the EU have remained relatively stable despite the significant drop in the world market price.

For the sugar marketing year 2020/21, we expect a relatively balanced EU market despite a decline in consumption due to corona, which is difficult to predict.