European producers set to cut sugar output - S&P Global
S&P Global
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Monday, December 30, 2024
German and French producers have reported concerns over lower-than-expected sucrose content in sugar beets this season. Both countries are currently re-evaluating production strategies, a move that could have a ripple effect on future supply levels. Additionally, EU producers are signaling they will reduce beet prices for 2025, down from an average of Eur50/mt ($52/mt) in 2023-24. This anticipated price drop may dissuade farmers from planting as much, potentially constraining supply in the coming years. "Producers aren't offering, producers like Sudzucker are following the same strategy to avoid further price decreasing. They are announcing that for the next crop 2025-26 they will plant 12%-13% less, and maybe the sugar producers are thinking to bring forward the carryover volume from this crop to the next," said a market participant.
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