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Wednesday, 06 January 2016

EU sugar prices to decline by nine percent up to 2017

Whilst sugar sales are projected to increase in the Southern African Customs Union (SACU) region, the European Union (EU) market value is projected to depreciate further as sugar prices are projected to decline by a further nine percent leading up to 2017. According to the Royal Swaziland Sugar Corporation (RSSC) integrated report 2015, there was a 23 percent global drop in sugar prices in 2014, from a peak of about €700 (E11 550) per tonne in 2012, to €450 (E7 425) per tonne in 2014, which equals to 35.7 in proportion within two years. Forecasts suggest that the EU price is expected to decline by a further nine percent leading up to 2017,” reads the report as part.  The report said in the current situation it was difficult to accurately predict how the market prospects for Swaziland would develop.  However, the company said they were considering various factors which included EU flat consumption, rapidly evolving market dynamics, increased volatility in terms of price and supply, new emphasis on supply and risk management, new skills set for operating in the increasingly competitive market and creative measures of commercialising and sourcing sugar. On the contrary to the EU market, the report said sugar consumption in Africa was one of the fastest growing worldwide therefore creating new supply prospects for the future.  In Africa sugar consumption is said to be greater than production, and this trend is projected to continue for several years to come.  “RSSC is actively exploring opportunities to leverage existing and new African markets via preferential trade terms among COMESA and SADC members,” said the report.

Source: Swazi Observer