EU production continues to tick higher - ING
ING Bank N.V.
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Wednesday, December 11, 2024
The EU sugar market continues to look increasingly comfortable, reflected in the weakness in regional prices. This has been largely driven by a recovery in EU output in 2023/24 and the expectation that output will continue to increase in the 2024/25 season, which is expected to see EU ending stocks edging higher. Production in the EU over 2024/25 is forecast to increase by around 1mt YoY to 16.6mt, which is driven by a combination of higher area and also an improvement in yields. French beet yields are expected to come under pressure – but this should be offset by larger area.
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