SUGAR, FROM PANIC TO HOPE.


We are 6 months from the start of the Coronavirus pandemic and for many commodities, the ongoing question is ‘what are the consequences to demand?’


We had massive price drops in March and not just for Sugar, as the panic spread out with fear of recession, higher unemployment and consequently lower demand.


   be over for now?


Since March we have seen a general support to economies with  and lower taxes (directly or indirectly), all aiming to contain the panic and support economies, therefore avoid higher unemployment.


We can say that in the short term all these measures helped a great deal   at least for now. For Demand, we can say that the worst fears of massive 


  .


   case.


 of a small Sugar surplus, then the numbers got bigger with expected    good performance.


4 | ADMISI - The Ghost In The Machine | Q3 Edition


 area is expected to      


is also going to disappoint with lower acreage (Russia seeing a   


WE ESTIMATE THAT DURING APRIL/ MARCH 2019/20 DEMAND MAY HAVE RISEN 0,65% AND FOR APRIL/MARCH 2020/21 THE DROP IN DEMAND MAY BE LIMITED TO 1,1%.


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