ECSEI Global Sugar Industry Report 2010
-
Upload
medhat-eldin -
Category
Documents
-
view
215 -
download
3
Transcript of ECSEI Global Sugar Industry Report 2010
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Our Summary Report's Notes:
Abbreviations and Explanatory Notes
Introduction:
• Sugar Definition • Sugar Cane Definition• Sugar Beet Definition • Ethanol from Sugar Definition
• Factors impacting sugar to ethanol viability
The EU converts refined sugar to ethanol Market
• Production and consumption• Production capacity• Use of raw material
Brazilian Sugar
• Producing Brazilian Sugar • Types of Brazilian Sugar • Brazilian Ethanol Production • Brazilian Sugar and Ethanol Indus• U.S. and Brazilian Ethanol Comparison
International Sugar Organization (ISO)
The Global Alliance for Sugar Trade Reform and Liberalization
World Food Price Inflation in
Sugar(World Production
• PRODUCTION • World production and consumption of sugar • Industry structure and development
Sugar Futures and Options Trading
• The Role of the Exchange• Trading Sugar Options
ISO World Sugar Market Review
The Global Sugar Industry
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
Our Summary Report's Notes:
Abbreviations and Explanatory Notes
Sugar Cane Definition Sugar Beet Definition Ethanol from Sugar Definition
Factors impacting sugar to ethanol viability
EU converts refined sugar to ethanol Market
Production and consumption Production capacity Use of raw material
Producing Brazilian Sugar Types of Brazilian Sugar for Export Brazilian Ethanol Production Brazilian Sugar and Ethanol Industry U.S. and Brazilian Ethanol Comparison
International Sugar Organization (ISO)
The Global Alliance for Sugar Trade Reform and Liberalization
World Food Price Inflation in 2007/2008 (FAO Report Review)
Sugar(World Production - Supply and Distribution)
World production and consumption of sugar Industry structure and development
Sugar Futures and Options Trading
The Role of the Exchange Trading Sugar Options
ISO World Sugar Market Review
The Global Sugar Industry 2009/2010"The End of Cheap Food"
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
The Global Alliance for Sugar Trade Reform and Liberalization
Review)
2009/2010
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Explanatory NotesAbbreviations and
ACP African, Caribbean and Pacific States
Affination
Production of a magma by mixing sugar with syrup and then centrifuging the magma with or without washing Affined sugar
Sugar purified by affination After product sugar
Sugar of the final crystallization stage (C sugar) Alkalinity In the product streams of a beet sugar factory, the result of a titration with standardized acid solution to a phenolphthalein endpoint or equivalent pH, expressed as g CaO per 100 Alkalinity, effective
The solid residue left after incineration in the presence of oxygen (crude ash, carbonate ash).
In analysis of sugar products, sulfuric acid is added to the sample, and this residue as
sulfated ash heated to 800 °C is taken to be a measure o
Sometimes determined indirectly by measure of the electrical conductivity of solutions of
the products.
Alliance for Sugar Trade Reform and Liberalization
The Global Alliance for Sugar Trade Reform and Liberalizations was esduring in November 1999Colombia, India, Guatemala, South Africa and Thailand) agreed and signed a communiqué calling for WTO agreement on agriculture that includes positive, progressive and meaningsugar is included as an important element of the agricultural trade agenda.
Availability of processing plant capacity, and the weather
Both influence the duration of harvesting and processing harvested beet until processed, but a frostunprocessable.
Page (1)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
Explanatory Notes
African, Caribbean and Pacific States
Production of a magma by mixing sugar with syrup and then centrifuging the magma with or without washing
Sugar purified by affination
gar of the final crystallization stage (C sugar)
In the product streams of a beet sugar factory, the result of a titration with standardized acid solution to a phenolphthalein endpoint or equivalent pH,
100 ml
he solid residue left after incineration in the presence of oxygen (crude ash, carbonate ash).
In analysis of sugar products, sulfuric acid is added to the sample, and this residue as
sulfated ash heated to 800 °C is taken to be a measure of the inorganic constituents.
Sometimes determined indirectly by measure of the electrical conductivity of solutions of
Alliance for Sugar Trade Reform and Liberalization
The Global Alliance for Sugar Trade Reform and Liberalizations was es1999 when members (Australia, Brazil, Canada
Colombia, India, Guatemala, South Africa and Thailand) agreed and signed a communiqué calling for WTO agreement on agriculture that includes positive, progressive and meaningful reform of the world sugar market by ensuring that sugar is included as an important element of the agricultural trade agenda.
Availability of processing plant capacity, and the weather
Both influence the duration of harvesting and processing - the industry can lay up harvested beet until processed, but a frost-damaged beet becomes effectively
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
Production of a magma by mixing sugar with syrup and then centrifuging the
In the product streams of a beet sugar factory, the result of a titration with standardized acid solution to a phenolphthalein endpoint or equivalent pH,
he solid residue left after incineration in the presence of oxygen (crude ash, carbonate ash).
In analysis of sugar products, sulfuric acid is added to the sample, and this residue as
f the inorganic constituents.
Sometimes determined indirectly by measure of the electrical conductivity of solutions of
The Global Alliance for Sugar Trade Reform and Liberalizations was established Canada, Chile,
Colombia, India, Guatemala, South Africa and Thailand) agreed and signed a communiqué calling for WTO agreement on agriculture that includes positive,
ful reform of the world sugar market by ensuring that sugar is included as an important element of the agricultural trade agenda.
dustry can lay up damaged beet becomes effectively
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Bagasse
The residue obtained after crushing cane in a mill is known as bagasse. Depending on the number of the mill it is referred to as firsmill bagasse, etc. After a diffuser the residue is called diffuser bagasse. The final residue from a milling train or from the dewatering mills of a diffusion plant is called final bagasse or simply, bagasse.
Bagasse Extract The liquid fraction decanted from the bagasse after blending with water in the colddigester. Bear Market: A market in which prices are declining Beet Sugar beet root, botanically the thick main root with stored. Beet brei
Beet sample prepared for analysis in the form of fine particles
Beet clamp
Stack of stored beet. Beet flume Concrete-lined ditch or metal trough Beet knife Rectangular piece of steel designed to slice Beet pile
Store of beet in suitably prepared areas of the factory yard Beet pump Special centrifugal pump used to lift beet and water Beet rasp, beet saw Devices to obtain beet brei from beet samples Beet sampler
Scooping device to collect beet samples
Page (2)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
The residue obtained after crushing cane in a mill is known as bagasse. Depending on the number of the mill it is referred to as first mill bagasse, second mill bagasse, etc. After a diffuser the residue is called diffuser bagasse. The final residue from a milling train or from the dewatering mills of a diffusion plant is called final bagasse or simply, bagasse.
liquid fraction decanted from the bagasse after blending with water in the
A market in which prices are declining.
Sugar beet root, botanically the thick main root with hypocotyls in which sugar is
Beet sample prepared for analysis in the form of fine particles.
lined ditch or metal trough designed for the hydraulic transport of beet
Rectangular piece of steel designed to slice beet into cossettes.
Store of beet in suitably prepared areas of the factory yard.
Special centrifugal pump used to lift beet and water.
Devices to obtain beet brei from beet samples.
evice to collect beet samples.
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
The residue obtained after crushing cane in a mill is known as bagasse. t mill bagasse, second
mill bagasse, etc. After a diffuser the residue is called diffuser bagasse. The final
liquid fraction decanted from the bagasse after blending with water in the
in which sugar is
the hydraulic transport of beet.
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Bid A contractually binding offer to buy sugar at a certain price within a certain time limit that can be given either in writing or orally(Sometimes referred to as a Blended sugar (sugar dextrose) In some locales, dextrose, a cornor beet sugar to create a white granulated blend that may be less expensive than traditional sugar. Dextrose is about 70% as sweet as sugar and is more hygroscopic attracting). Because of these characteristics, blends may not perform exactly as sugar in certain recipes.
Brown sugar Brown sugar consists of sugar crystals contained in molasses syrup with natural flavor and color components. Many sugar refiners produce browcontaining these components until brown sugar crystals form. Brix Refractometer brix the term used when a refractometer equipped with a scalebased on the relationship between refractive indices at by mass of total soluble solids of a pure aqueous sucrose solution, is used instead of a hydrometer to test the solids concentration of a sucrose containing solution.
Brix-Free Water The water associated with the fibre in cane and bagasorpfionwater behaves in a manner similar to water of hydration and it is not available for dissolving sucrose. It is driven off at elevated temperatures. The amount of brix-free water is assumed to be
Candy crystals
Large sugar crystals produced by a special crystallization process Carryover
The surplus stocks of a commodity from a previous season that are used in the current season. Current Crop (CC) Sugar to have been produced since the starparticular origin. COMMISSION REGULATION
Commission regulation (ECobligations for cane sugar to be imported under the ACP Protocol and the Agreement with India for the
Page (3)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
A contractually binding offer to buy sugar at a certain price within a certain time limit that can be given either in writing or orally. Sometimes referred to as a “firm bid”.
Blended sugar (sugar dextrose)
ome locales, dextrose, a corn-derived sweetener, is added to granulated cane or beet sugar to create a white granulated blend that may be less expensive than
as sweet as sugar and is more hygroscopic (ing). Because of these characteristics, blends may not perform exactly as
Brown sugar consists of sugar crystals contained in molasses syrup with natural flavor and color components. Many sugar refiners produce brown sugar by preparing and boiling specialcontaining these components until brown sugar crystals form.
term used when a refractometer equipped with a scaleon the relationship between refractive indices at 20°C and the percentage
by mass of total soluble solids of a pure aqueous sucrose solution, is used instead of a hydrometer to test the solids concentration of a sucrose containing solution.
The water associated with the fibre in cane and bagasse. In some respects this sorpfionwater behaves in a manner similar to water of hydration and it is not available for dissolving sucrose. It is driven off at elevated temperatures. The
free water is assumed to be 25% on dry fibre.
Large sugar crystals produced by a special crystallization process (19
The surplus stocks of a commodity from a previous season that are used in the
Sugar to have been produced since the start of the current crop year for that
OMMISSION REGULATION (EC) No 77/2008
EC) No 77/2008 of 28 January 2008 setting delivery obligations for cane sugar to be imported under the ACP Protocol and the
h India for the 2007/2008 delivery period.
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
A contractually binding offer to buy sugar at a certain price within a certain time
derived sweetener, is added to granulated cane or beet sugar to create a white granulated blend that may be less expensive than
(water ing). Because of these characteristics, blends may not perform exactly as
Brown sugar consists of sugar crystals contained in molasses syrup with natural
special syrup
term used when a refractometer equipped with a scale, d the percentage
by mass of total soluble solids of a pure aqueous sucrose solution, is used instead of a hydrometer to test the solids concentration of a sucrose containing solution.
sse. In some respects this sorpfionwater behaves in a manner similar to water of hydration and it is not available for dissolving sucrose. It is driven off at elevated temperatures. The
19. Mai).
The surplus stocks of a commodity from a previous season that are used in the
t of the current crop year for that
setting delivery obligations for cane sugar to be imported under the ACP Protocol and the
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
COMMISSION REGULATION
Commission regulation (ECobligations for cane sugar to be imported under the ACP Protocol and the Agreement with India for the beginning on 1 July 2009
Convert Metric Tons / Tons
To convert this To this short tons metric tonsshort tons poundskilograms poundsPounds kilogramsPounds troy poundsmetric tons poundsmetric tons short tons Convert Acres / Hectares 1 Hectare = 2.47 Acres1 Acre = 0.40 Hectares
To convert this pounds per acre short tons per acre kilograms per hectare kilograms per hectare tons per hectare tons per hectare
Crystal content Proportion by mass of crystals in the magma Crystallization in concentrated Crystallization or granulation is natural conversion from liquid state into solid state due to cooling of supersaturated liquid. This is NOT deterioration. CSR Sugar
As Australia’s largest sugar producer, CSR has seven mills located in some of Australia’s most productive sugarcane regions.venture interests in sugar refining in Australia and New Zealand and is a majAustralian ethanol producer.
Page (4)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
COMMISSION REGULATION (EC) No 505/2009
EC) No 505/2009 of 15 June 2009 adjusting the delivery obligations for cane sugar to be imported under the ACP Protocol and the
ndia for the 2008/2009 delivery period and the delivery period 2009.
Convert Metric Tons / Tons
To this Multiply by: metric tons .9072 pounds 2,000 pounds 2.2046
grams 0.4536 troy pounds 1.2153 pounds 2,204.6 short tons 1.1023
Convert Acres / Hectares
Acres. Hectares.
To this Multiply by: kilograms per hectare 1.14 kilograms per hectare 2.25 metric tons per hectare .001 pounds per acre .88 short tons per acre .44 kilograms per hectare 1,000
Proportion by mass of crystals in the magma.
Crystallization in concentrated / supersaturated sugar syrups
Crystallization or granulation is natural conversion from liquid state into solid supersaturated liquid.
terioration.
As Australia’s largest sugar producer, CSR has seven mills located in some of Australia’s most productive sugarcane regions. CSR also owns 75%venture interests in sugar refining in Australia and New Zealand and is a majAustralian ethanol producer.
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
adjusting the delivery obligations for cane sugar to be imported under the ACP Protocol and the
delivery period and the delivery period
/ supersaturated sugar syrups
Crystallization or granulation is natural conversion from liquid state into solid
As Australia’s largest sugar producer, CSR has seven mills located in some of 75% of joint
venture interests in sugar refining in Australia and New Zealand and is a major
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
DAC Extract
The liquid fraction decanted from the cane after blending with water in the colddigester. DAC Factors Brix Factor The percentage ratio of the total brix in mixed juice, final bagasseand where applicable, diffuser press water mud, to total brix in cane as determined by direct analysis. Pol Factor The percentage ratio of the total pol in mixed juice, final bagasseand where applicable, diffuser press water mud, to total pol in cane as determined by danalysis.
Fibre Fiber is the cane plant’s vegetable skeleton in which juice is stored and through which plant food, dissolved in water, is distributed throughout the plant. In the milling process, the fiber cells are ruptured, thus freeing the jucontent of sugar cane varies according to variety16%. Medium and consistent fiber content is desirable in commercial varieties
DAC fibre
Fibre % cane derived from direct cane analysis and applying the formulaFibre % cane = (100-M-3in which M= moisture % cane b= brix % extract
Demurrage An agreed amount payable tothe laytime, for which the owner is not responsible. Despatch An agreed amount payable by the owner if the vessel completes loading discharging before the laytime has expired Despatch On All Time Saved (ATS )
Despatch money shall be payable by the owner discharging to the expiry of laytime. Discounts
Negative price differential between physical sugar and its corresponding futures month.
Page (5)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
The liquid fraction decanted from the cane after blending with water in the
The percentage ratio of the total brix in mixed juice, final bagasseand where ble, diffuser press water mud, to total brix in cane as determined by direct
The percentage ratio of the total pol in mixed juice, final bagasseand where applicable, diffuser press water mud, to total pol in cane as determined by d
Fiber is the cane plant’s vegetable skeleton in which juice is stored and through which plant food, dissolved in water, is distributed throughout the plant. In the milling process, the fiber cells are ruptured, thus freeing the juice. The fiber content of sugar cane varies according to variety. The normal range is
Medium and consistent fiber content is desirable in commercial varieties
Fibre % cane derived from direct cane analysis and applying the formula3b)/(1-0.0125b)
An agreed amount payable to the owner in respect of delay to the vessel beyond for which the owner is not responsible.
amount payable by the owner if the vessel completes loading before the laytime has expired.
Despatch On All Time Saved (ATS )
Despatch money shall be payable by the owner from the completion of loading or discharging to the expiry of the laytime including periods exempted from the
Negative price differential between physical sugar and its corresponding futures
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
The liquid fraction decanted from the cane after blending with water in the
The percentage ratio of the total brix in mixed juice, final bagasseand where ble, diffuser press water mud, to total brix in cane as determined by direct
The percentage ratio of the total pol in mixed juice, final bagasseand where applicable, diffuser press water mud, to total pol in cane as determined by direct
Fiber is the cane plant’s vegetable skeleton in which juice is stored and through which plant food, dissolved in water, is distributed throughout the plant. In the
ice. The fiber The normal range is 10% to
Medium and consistent fiber content is desirable in commercial varieties.
Fibre % cane derived from direct cane analysis and applying the formula
the owner in respect of delay to the vessel beyond
amount payable by the owner if the vessel completes loading or
completion of loading or the laytime including periods exempted from the
Negative price differential between physical sugar and its corresponding futures
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Discretionary Account
An account in which the customer gives the broker or another authority to buy and sell commodities on his behalf.
Dried sugar beet cossettes Commercial term for dried (including pressed) cossettes from which no sugar has been extracted. EBA Everything But Arms (initiative). Initiative designed in favour o Ethanol
An alcohol (C2H5OH), used for a variety of purposes Equity The total cash value of an would be incurred if the existing futures positions were liquidated at thsettlement price. Exercise
Taking advantage of the right to buy or sell the underlying futures contract at the agreed upon strike price. Ex-pit Transaction A legal trade executed outside the exchange trading ring. Used normally to transfer EU "quota" and subsidized
The EU subsidies and a high import tariff make it difficult for other countries to export sugar to the EU states, or to compete with the Europeans on world markets. Extraction losses Quantity of sugar entered but not contained in the raw juice as a percentage of the beet or cane mass. False grain Undesirable small crystals Fanged beet Beet with multiple tap roots
Page (6)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
An account in which the customer gives the broker or another party traauthority to buy and sell commodities on his behalf.
Dried sugar beet cossettes
Commercial term for dried (including pressed) cossettes from which no sugar has
Everything But Arms (initiative). Initiative designed in favour of Least Developed Countries.
used for a variety of purposes.
The total cash value of an account, including the amount of profit or loss be incurred if the existing futures positions were liquidated at th
Taking advantage of the right to buy or sell the underlying futures contract at the agreed upon strike price.
A legal trade executed outside the exchange trading ring. Used normally to transfer positions from one clearer to another.
EU "quota" and subsidized
The EU subsidies and a high import tariff make it difficult for other countries to export sugar to the EU states, or to compete with the Europeans on world
ntity of sugar entered but not contained in the raw juice as a percentage of
Undesirable small crystals.
Beet with multiple tap roots.
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
party trading
Commercial term for dried (including pressed) cossettes from which no sugar has
or loss that be incurred if the existing futures positions were liquidated at the current
Taking advantage of the right to buy or sell the underlying futures contract at the
The EU subsidies and a high import tariff make it difficult for other countries to export sugar to the EU states, or to compete with the Europeans on world
ntity of sugar entered but not contained in the raw juice as a percentage of
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Final molasses
The black syrup, commonly known as molasses or ‘C’ sugar syrup has been boiled and passed through the centrifugal for the last item in a mill or refinery. The sugar it contains cannot be removed economically. A typical analysis of final molasses includes sucrose (16.5%), ash (11.3%), water (16.3%). The ash includes calcium, magnesium, potassium, silicon, iron, and phosphorous and other elements in the form of inorganic salts. Force Majeure
Events and happenings that occur which prevent or delay loading or shippingThese events, as stated in the rules of SAL and War, strikes, rebellion, insurrection,commotion, fire, stress of (Whether or not of like kind to those before control. Form A Otherwise known as GSTP Form A showing that the sugar is from a country origin which is a member of the General System of Tr Fructose
A sugar, which occurs in, fruit, the nectar of flowers, honey, and in cane juice and sugar products. It is formed in equal quantity with glucose when sucrose is inverted. In solution, it rotates polarized light to the left. It hcomposition C6H12O6. Fuel ethanol Ethanol blended with petrol, used as a fuel for the transportation sector.Ethanol is now the most widely used alternative fuel in the world; the biggest use of ethanol in the United States is as an additoxygenate (to prevent air pollution from carbon monoxide and ozone), as an octane booster (to prevent early ignition, or 'engine knock'), and as an extender of gasoline. GSTP General System of Trade Preferences. A ceForm A) showing that the country of origin of the sugar is a member of the group of countries. This is one of the documents that enter sugar into other GSTP countries at often preferent
Glucose
A sugar, which occurs naturally in grapes, honey, sweet fruits, and in cane juice and sugar products. It can also be made from wheat. In the human body, sucrose is converted into glucose and fructose before being used tothe chemical composition C
Page (7)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
The black syrup, commonly known as molasses or ‘C’ syrup, remaining after the sugar syrup has been boiled and passed through the centrifugal for the last item
The sugar it contains cannot be removed economically. A typical analysis of final molasses includes sucrose (34.1%), reduci
water (21.8%) and various sugar, gums and acids
The ash includes calcium, magnesium, potassium, silicon, iron, and phosphorous and other elements in the form of inorganic salts.
ngs that occur which prevent or delay loading or shippingas stated in the rules of SAL and RSA, are as follows:
insurrection, political or labour disturbances,stress of weather, act of God or any cause of force majeure
or not of like kind to those before mentioned) beyond the sellers
Otherwise known as GSTP Form A showing that the sugar is from a country which is a member of the General System of Trade Preferences
A sugar, which occurs in, fruit, the nectar of flowers, honey, and in cane juice and sugar products. It is formed in equal quantity with glucose when sucrose is inverted. In solution, it rotates polarized light to the left. It has the chemical
Ethanol blended with petrol, used as a fuel for the transportation sector.Ethanol is now the most widely used alternative fuel in the world; the biggest use of ethanol in the United States is as an additive in gasoline. It serves as an oxygenate (to prevent air pollution from carbon monoxide and ozone), as an octane booster (to prevent early ignition, or 'engine knock'), and as an extender
General System of Trade Preferences. A certificate (sometimes referred to as a showing that the country of origin of the sugar is a member of the
of countries. This is one of the documents that are necessary in order to into other GSTP countries at often preferential rates of import duty.
A sugar, which occurs naturally in grapes, honey, sweet fruits, and in cane juice and sugar products. It can also be made from wheat. In the human body, sucrose is converted into glucose and fructose before being used to provide energy. It has the chemical composition C6H12O6 and may also be called dextrose
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
syrup, remaining after the sugar syrup has been boiled and passed through the centrifugal for the last item
reducing sugars gums and acids
The ash includes calcium, magnesium, potassium, silicon, iron, and phosphorous
ngs that occur which prevent or delay loading or shipping. follows:
disturbances, civil r any cause of force majeure
beyond the sellers
Otherwise known as GSTP Form A showing that the sugar is from a country of ade Preferences.
A sugar, which occurs in, fruit, the nectar of flowers, honey, and in cane juice and sugar products. It is formed in equal quantity with glucose when sucrose is
as the chemical
Ethanol blended with petrol, used as a fuel for the transportation sector. Ethanol is now the most widely used alternative fuel in the world; the biggest use
ive in gasoline. It serves as an oxygenate (to prevent air pollution from carbon monoxide and ozone), as an octane booster (to prevent early ignition, or 'engine knock'), and as an extender
referred to as a showing that the country of origin of the sugar is a member of the GSTP
necessary in order to ial rates of import duty.
A sugar, which occurs naturally in grapes, honey, sweet fruits, and in cane juice and sugar products. It can also be made from wheat. In the human body, sucrose
provide energy. It has and may also be called dextrose.
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Hardening of brown sugar Brown Sugars have a natural tendency to harden upon storage due to inherent moisture. The ideal storage conditions for these sugars are 10-22 degrees and with a humidity variation within However, if storage conditions are not right, then the product will turn hard. To soften the hard natural brown sugar is to expose it to moisture putting it in a container and covering it with damp cloth or by putting some apple wedges in the container and close the lid. Helms Burton Act American legislation that prevents US companies and their overseas subsidiaries from trading Cuban sugar. HFCS High Fructose Corn Syrup. This is the most common name for starchCorn is the starch base of these syrups. Other suitable but not as widely used starch sources include rice, wheat and tapioca. In Europe HFCS is referred toiso-glucose. ICUMSA
International Commission for Uniform Methods of Sugar Analysis. A scale of measurement for the colour sugar.
Insoluble Solids Insoluble material in mixed juice or press water mud, by filtration according to a prescribed method. Initial Margin The amount of money that must be deposited in an account when a futures position is established. Also called Original Margin International Scale(of polarization pr
For every full degree above above 97to and including including 99 add 1.0%. Fractions of degree are calculated pro Intermixed Cane That portion of cane on a cane carrier originating from the overlapping of different consignments. Its composition is unlikely to be representative of anyone consignment and it is therefore excluded from consignment sampling.
Page (8)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
Hardening of brown sugar
Brown Sugars have a natural tendency to harden upon storage due to inherent
The ideal storage conditions for these sugars are a constant temperature between degrees and with a humidity variation within 40-60%.
However, if storage conditions are not right, then the product will turn hard. To soften the hard natural brown sugar is to expose it to moisture (surprising)
tting it in a container and covering it with damp cloth or by putting some apple wedges in the container and close the lid.
that prevents US companies and their overseas subsidiaries from trading Cuban sugar.
High Fructose Corn Syrup. This is the most common name for starch-based fructose/glucose syrups. Corn is the starch base of these syrups. Other suitable but not as widely used starch sources include rice, wheat and tapioca. In Europe HFCS is referred to
International Commission for Uniform Methods of Sugar Analysis. A scale of measurement for the colour of sugar. The lower the ICUMSA, the whiter
Insoluble material in mixed juice or press water mud, determined gravimetrically according to a prescribed method.
The amount of money that must be deposited in an account when a futures Also called Original Margin
International Scale(of polarization premiums).
For every full degree above 96 to and including 97 add 1.5%, for every degree to and including 98 add 1.25%, and for every degree above
Fractions of degree are calculated pro rata.
portion of cane on a cane carrier originating from the overlapping of
Its composition is unlikely to be representative of anyone consignment and it is therefore excluded from consignment sampling.
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
Brown Sugars have a natural tendency to harden upon storage due to inherent
a constant temperature between
However, if storage conditions are not right, then the product will turn hard. (surprising) by
tting it in a container and covering it with damp cloth or by putting some apple
that prevents US companies and their overseas subsidiaries
based fructose/glucose syrups. Corn is the starch base of these syrups. Other suitable but not as widely used starch sources include rice, wheat and tapioca. In Europe HFCS is referred to as
International Commission for Uniform Methods of Sugar Analysis. A scale of the whiter the
determined gravimetrically
The amount of money that must be deposited in an account when a futures
for every degree and for every degree above 98 to and
portion of cane on a cane carrier originating from the overlapping of
Its composition is unlikely to be representative of anyone consignment and it is
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
International Sugar Agreemen
The International Sugar Agreement of A United Nations Sugar Conference met in Geneva during September and October, and prepared the text of a new International Sugar Agreement. ISO
International Sugar Organization Inverse Positive price differential where the price of the nearby shipment position is at a premium to the more deferred position. Juice
Mixed juice the mixture of juices from the extraction plant delivered into scales. Press water the juice expressed in dewatering diff Juice purification Partial removal of no sugarjuice. Laytime
The period of time agreed between the parties during which the vessel owner make and keep the vessel available for ladditional to the freight. Limit Orders Orders to brokers to buy or sell at a specified price or better. Sometimes called resting orders. Liner Out The seller / ship owner delivers the commodity to the port of discharges on to the quay at no cost to the buyer. No demurrage or dispatch to be paid. LDA Late Delivery Allowance. LDCs Least Developed Countries Magma
Mixture of crystals and syrup
Page (9)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
International Sugar Agreement
The International Sugar Agreement of 1958: A United Nations Sugar Conference met in Geneva during September and October, and prepared the text of a new International Sugar Agreement.
International Sugar Organization
erential where the price of the nearby shipment position is at a premium to the more deferred position.
mixture of juices from the extraction plant delivered into juice expressed in dewatering diffuser bagasse.
no sugar substances from the raw juice while producing a thin
The period of time agreed between the parties during which the vessel owner and keep the vessel available for loading or discharging without
Orders to brokers to buy or sell at a specified price or better. Sometimes called
The seller / ship owner delivers the commodity to the port of discharge and discharges on to the quay at no cost to the buyer. No demurrage or dispatch to
Least Developed Countries.
Mixture of crystals and syrup.
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
A United Nations Sugar Conference met in Geneva during September and October, and prepared the text of a new International Sugar Agreement.
erential where the price of the nearby shipment position is at a
mixture of juices from the extraction plant delivered into the juice user bagasse.
substances from the raw juice while producing a thin
The period of time agreed between the parties during which the vessel owner will oading or discharging without payment
Orders to brokers to buy or sell at a specified price or better. Sometimes called
discharge and discharges on to the quay at no cost to the buyer. No demurrage or dispatch to
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Minimum Price Fluctuation
Also called minimum tick. The minimum price increment in a futures market. In New York No.11 Sugar it is Mill Whites Low quality white sugar produced directly at the mill with a color usually around 300 ICUMSA. (Otherwise known as plantation whites.) Notice of Readiness (NOR) The notice to charterer, shipper, receiver, or other person as required by the charter party that the vessel has arrived at the port or berth and is ready to load or discharge. Mixer Apparatus to distribute magma to the centrifugals Moistness in sugar sachets during storage All natural brown sugars existing moisture to become moist and hard. The basic character of being minerals is the main reason why this natural brown sugar retains & imparts rich flavor to foodstuff. Moisture absorption is a factor of external parameters like ambient humidity, storage conditions, packing conditions and amcontents in natural brown sugars. Molassed dried pulp Commercial term for a mixture of dried pressed pulp and molasses Molasses The sugar-bearing product of the sugar end whose purity has been reduced to the point that further crystallization of sugar is not economical feasible without special treatment of molasses Mud The material removed from the bottom part of the the settled insoluble solids. Net titer (nt)
A measure of the commercial value of raw sugar for refining purposes. Net titer provides a method for expressing different sugar at a standard value and is used of statistical and payment purposes. The net titer of a sugar is calculated by subtracting the reducing sugar contand five times the ash content from the polarization of the sugar.
Page (10)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
Minimum Price Fluctuation
m tick. The minimum price increment in a futures market. In Sugar it is 1 point, which equals $11.20 per contract of
white sugar produced directly at the mill with a color usually around rwise known as plantation whites.)
Notice of Readiness (NOR)
The notice to charterer, shipper, receiver, or other person as required by the charter party that the vessel has arrived at the port or berth and is ready to load
atus to distribute magma to the centrifugals.
Moistness in sugar sachets during storage
have a natural tendency to absorb moisture or use existing moisture to become moist and hard. The basic character of being hygroscopic, 100% natural, containing
the main reason why this natural brown sugar retains & imparts rich
Moisture absorption is a factor of external parameters like ambient humidity, storage conditions, packing conditions and amount of natural mineral and nutrient contents in natural brown sugars.
Commercial term for a mixture of dried pressed pulp and molasses.
bearing product of the sugar end whose purity has been reduced to the that further crystallization of sugar is not economical feasible without
special treatment of molasses.
The material removed from the bottom part of the subsides. The mud contains solids.
ercial value of raw sugar for refining purposes. Net titer provides a method for expressing different sugar at a standard value and is used of statistical and payment purposes. The net titer of a sugar is calculated by subtracting the reducing sugar contand five times the ash content from the polarization of the sugar.
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
m tick. The minimum price increment in a futures market. In per contract of 50 tons.
white sugar produced directly at the mill with a color usually around
The notice to charterer, shipper, receiver, or other person as required by the charter party that the vessel has arrived at the port or berth and is ready to load
have a natural tendency to absorb moisture or use
natural, containing molasses, the main reason why this natural brown sugar retains & imparts rich
Moisture absorption is a factor of external parameters like ambient humidity, ount of natural mineral and nutrient
.
bearing product of the sugar end whose purity has been reduced to the that further crystallization of sugar is not economical feasible without
. The mud contains
ercial value of raw sugar for refining purposes. Net titer provides a method for expressing different sugar at a standard value and
The net titer of a sugar is calculated by subtracting the reducing sugar content
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Non-centrifugal sugars
In some areas of the world sugar cane juice is merely evaporated to produce a crude raw sugar; the sugar crystals are not removed from the mother syrup in centrifugals. The sugar is generally consumed where it is produced. Some of these sugars are known as Jaggery, Gur, Piloncilo and Muscovado. Jaggery and Gur are made in India by evaporating cane juice in an open pan. The juice is evaporated to almost drynA large amount of sugar consumed in India is in this form. Nonsucrose Substances contained in raw material and Nonsucrose content Difference between dry substance co Nonsugar Common overall term for substances contained in the raw materials and products of the sugar industry except sucrose (sugar) and water Nonsugar content
Difference between dry substance content and sugar content iSugar content (a) and (b) (q.v.) Normal Mass The mass of sample equal to the normal mass of sucrose. That mass of pure dry sucrose which, when dissolved in water to a total volume of 100cm3 at 20°C and read at the same temperature in gives a reading of 100 degrees on a saccharimeter scaleInternational Sugar Scale the normal mass of sucrose is Nucleation Generation and development Pelleted seed Beet seed brought to uniform size by coating Per Hatch Per Day Means that the lay time is to be calculated by dividing the quantity of cargo by the result of multiplying the agreed daily per hatch by the number of the vessel’s hatches. Each pair of paNevertheless, a hatch that can be worked simultaneously by two gangs shall be counted as two hatches. Piled beet
Stored beet (as distinct from freshly harvested beet)
Page (11)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
centrifugal sugars
In some areas of the world sugar cane juice is merely evaporated to produce a crude raw sugar; the sugar crystals are not removed from the mother syrup in
The sugar is generally consumed where it is produced. Some of these sugars are known as Jaggery, Gur, Piloncilo and Muscovado. Jaggery and Gur are made in India by evaporating cane juice in an open pan. The juice is evaporated to almost dryness and is then cast in open moulds or loaves. A large amount of sugar consumed in India is in this form.
Substances contained in raw material and its products except sucrose and water
Difference between dry substance content and its sucrose content.
Common overall term for substances contained in the raw materials and products of the sugar industry except sucrose (sugar) and water.
Difference between dry substance content and sugar content in the meaning of Sugar content (a) and (b) (q.v.).
The mass of sample equal to the normal mass of sucrose. That mass of pure dry sucrose which, when dissolved in water to a total volume
C and read at the same temperature in a tube 200 degrees on a saccharimeter scale. According to the
International Sugar Scale the normal mass of sucrose is 26,000 g.
Generation and development of small crystals capable of growth.
et seed brought to uniform size by coating.
Means that the lay time is to be calculated by dividing the quantity of cargo by the result of multiplying the agreed daily per hatch by the number of the vessel’s hatches. Each pair of parallel twin hatches shall count as one hatch. Nevertheless, a hatch that can be worked simultaneously by two gangs shall be
Stored beet (as distinct from freshly harvested beet).
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
In some areas of the world sugar cane juice is merely evaporated to produce a crude raw sugar; the sugar crystals are not removed from the mother syrup in
The sugar is generally consumed where it is produced. Some of these sugars are
Jaggery and Gur are made in India by evaporating cane juice in an open pan. The ess and is then cast in open moulds or loaves.
products except sucrose and water.
Common overall term for substances contained in the raw materials and products
n the meaning of
That mass of pure dry sucrose which, when dissolved in water to a total volume 200 mm long,
According to the
Means that the lay time is to be calculated by dividing the quantity of cargo by the result of multiplying the agreed daily per hatch by the number of the
rallel twin hatches shall count as one hatch. Nevertheless, a hatch that can be worked simultaneously by two gangs shall be
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Plantation Whites
Low quality or unrefined white sugar produced directly at the mill. Points
One point is 1/100 of one cent per poundpoints per pound into dollars per metric tone multiply them by convert them into dollars per long ton Polarization Measurement of sucrose content in sugarsucrose. Raw sugar is usually traded basis Polarization Premiums
Scale of payments for rewarding the producer for delivering supolarizations or penalizing the producer for delivering sugar between Pol The apparent sucrose content of any substance expressed as a percentage by mass and determined by the single or direct used as if it were a real substance. Polarization
Term customarily used in sugar analysis for the optical rotation of a sugar industry product, measured under the same conditions Precision seed Monogerm seed produced from multi Preparation index Percentage ratio of dry substance in ruptured cells to total dry substance in cane Pressed pulp Pressed, exhausted cossettes, leaving the pulp presses Processed seed Beet seed brought to a uniform size by mechanical treat Purity
The percentage ratio of sucrose (or pol) to the total soluble solids (or brix) in a sugar product. The following terms are in general use:Refractive apparent purity: The percentage ratio of pol to refractometer brix. G.C. sucrose refractometer brix purity: The percentage ratio of GC sucrose torefractometer brix.
Page (12)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
refined white sugar produced directly at the mill.
of one cent per pound. To convert the price of sugar from points per pound into dollars per metric tone multiply them by 0.220462convert them into dollars per long ton multiply by 0.224.
Measurement of sucrose content in sugar. 100 are maximum and means Raw sugar is usually traded basis 96 polarizations.
Polarization Premiums
Scale of payments for rewarding the producer for delivering sugar above polarizations or penalizing the producer for delivering sugar between
The apparent sucrose content of any substance expressed as a percentage by determined by the single or direct polarization method. The term is
d as if it were a real substance.
Term customarily used in sugar analysis for the optical rotation of a sugar industry product, measured under the same conditions.
Monogerm seed produced from multi-germ seed by rubbing and grading
Percentage ratio of dry substance in ruptured cells to total dry substance in cane
Pressed, exhausted cossettes, leaving the pulp presses.
Beet seed brought to a uniform size by mechanical treatment and screening
The percentage ratio of sucrose (or pol) to the total soluble solids (or brix) in a . The following terms are in general use:
Refractive apparent purity: The percentage ratio of pol to refractometer brix. crose refractometer brix purity: The percentage ratio of GC sucrose
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
To convert the price of sugar from 0.220462. To
are maximum and means 100%
gar above 96 polarizations or penalizing the producer for delivering sugar between 96 and 93.
The apparent sucrose content of any substance expressed as a percentage by method. The term is
Term customarily used in sugar analysis for the optical rotation of a sugar
grading.
Percentage ratio of dry substance in ruptured cells to total dry substance in cane.
ment and screening.
The percentage ratio of sucrose (or pol) to the total soluble solids (or brix) in a
Refractive apparent purity: The percentage ratio of pol to refractometer brix. crose refractometer brix purity: The percentage ratio of GC sucrose
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Purity
Sugar content as percent of dry Raw juice
Juice obtained from beet or cane after extraction, pressing or milling Raw juice draft
Mass of juice drawn from the extraction plant as percent of mass of cossettes introduced. Ratoon Cane, which grows from the stools, left in the ground after crop has been harvested. Raw Sugar
Raw sugar is a tan to brown, coarse granulated solid obtained on evaporation oclarified sugar cane juice. Raw sugar is processed from the cane at a sugar mill and then shipped to a refineryconsumers.
Reducing sugars
Reducing sugars are those, which have the ability to chemicaloxygen) certain other chemical compounds. In milling and refining, reducing sugars (mainly glucose and fructose) are regarded as impurities.
Refined sugar After being harvested, the sugar cane is sent to the refinery (sugar is alwaystransported in a raw or partially refined condition as humidity will damage a fully refined bulk shipment) where it is first washed to remove soil and impurities. Sugar which has passed through the refining process (involving removal of impurities) making it more suitable for direct human consumption or use in the manufacture of other foods.
Recoverable sugar Part of the sugar in beet, which can be obtained as white sugar in % on beet Refining Purification of sugar through Remelting Refers to taking domestically produced raw sugar and refining it into whites either for local consumption or for export. (Usually refers to Thailand.)
Page (13)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
Sugar content as percent of dry.
Juice obtained from beet or cane after extraction, pressing or milling
n from the extraction plant as percent of mass of cossettes
Cane, which grows from the stools, left in the ground after crop has been
Raw sugar is a tan to brown, coarse granulated solid obtained on evaporation oclarified sugar cane juice. Raw sugar is processed from the cane at a sugar mill and then shipped to a refinery. It is about 98% sucrose. Raw sugar is not sold to
Reducing sugars are those, which have the ability to chemically reduce (withdraw oxygen) certain other chemical compounds. In milling and refining, reducing sugars (mainly glucose and fructose) are
After being harvested, the sugar cane is sent to the refinery (sugar is alwaystransported in a raw or partially refined condition as humidity will damage a fully refined bulk shipment) where it is first washed to remove soil and impurities.
Sugar which has passed through the refining process (involving removal of g it more suitable for direct human consumption or use in the
manufacture of other foods. Also known as white sugar.
Part of the sugar in beet, which can be obtained as white sugar in % on beet
Purification of sugar through recrystallizing and chemical and physical methods
Refers to taking domestically produced raw sugar and refining it into whites either for local consumption or for export. (Usually refers to Thailand.)
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
Juice obtained from beet or cane after extraction, pressing or milling.
n from the extraction plant as percent of mass of cossettes
Cane, which grows from the stools, left in the ground after crop has been
Raw sugar is a tan to brown, coarse granulated solid obtained on evaporation of clarified sugar cane juice. Raw sugar is processed from the cane at a sugar mill
Raw sugar is not sold to
ly reduce (withdraw
In milling and refining, reducing sugars (mainly glucose and fructose) are
After being harvested, the sugar cane is sent to the refinery (sugar is always transported in a raw or partially refined condition as humidity will damage a fully refined bulk shipment) where it is first washed to remove soil and impurities.
Sugar which has passed through the refining process (involving removal of g it more suitable for direct human consumption or use in the
Part of the sugar in beet, which can be obtained as white sugar in % on beet.
recrystallizing and chemical and physical methods.
Refers to taking domestically produced raw sugar and refining it into whites either
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Remelting Refers to taking domesticalfor local consumption or for export. (Usually refers to Thailand.) RSA
Refined Sugar Association. Run-off (syrup)
General term for syrups produced on centrifuging SAL Sugar Association of London. SEOs Seller’s Executable Orders where the seller gives instructions to the buyer to sell futures to set the final contract price plus or minus the premium or discount. Silin number Length in meters of 100 grams of cossettes Spreads
Price differentials between different forward shipment positions for either physicals or futures. Stop Orders Orders to buy or sell at the market if the contract trades at or through a specified price (the stop price). Stop Limit Orders Orders to buy or sell at a specified price or better if the contract at or through a specified stop price. Store brown sugar Store brown sugar in a way that allows the product to retain its natural moisturein its original plastic bag (closed tightly) or in a moistusugar hardens, let it stand overnight in a sealed jar with a damp paper towel or apple slice. For a quick fixminutes, or microwave on low for Strike A concerted industrial action by workmen causing a complete stoppage of there work which directly interferes with the working of the vessel. Refusal to work overtime, go-slow, or working to rule and comparable actions not causing a complete stoppage shall not be considered a strike.
Page (14)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
Refers to taking domestically produced raw sugar and refining it into whites either for local consumption or for export. (Usually refers to Thailand.)
Refined Sugar Association.
General term for syrups produced on centrifuging magma.
of London.
Seller’s Executable Orders where the seller gives instructions to the buyer to sell futures to set the final contract price plus or minus the premium or discount.
grams of cossettes.
ce differentials between different forward shipment positions for either
Orders to buy or sell at the market if the contract trades at or through a specified
or sell at a specified price or better if the contract at or through a
Store brown sugar in a way that allows the product to retain its natural moisturein its original plastic bag (closed tightly) or in a moisture-proof container. If the sugar hardens, let it stand overnight in a sealed jar with a damp paper towel or
For a quick fix, heat the needed amount in a 250 oven for a few or microwave on low for 1-2 minutes per cup. Use immediately
A concerted industrial action by workmen causing a complete stoppage of there work which directly interferes with the working of the vessel. Refusal to work
slow, or working to rule and comparable actions not causing a complete stoppage shall not be considered a strike.
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
ly produced raw sugar and refining it into whites either
Seller’s Executable Orders where the seller gives instructions to the buyer to sell futures to set the final contract price plus or minus the premium or discount.
ce differentials between different forward shipment positions for either
Orders to buy or sell at the market if the contract trades at or through a specified
or sell at a specified price or better if the contract at or through a
Store brown sugar in a way that allows the product to retain its natural moisture-proof container. If the
sugar hardens, let it stand overnight in a sealed jar with a damp paper towel or oven for a few
Use immediately
A concerted industrial action by workmen causing a complete stoppage of there work which directly interferes with the working of the vessel. Refusal to work
slow, or working to rule and comparable actions not causing a
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Strike Price
The fixed price in a range of fixed prices in the option market at which the calls or puts are traded, for a premium to the seller / granter. Sucrose The pure disaccharide α-Dcommonly as sugar. In the South African Sugar Industry sucrose is determined by GC. Sugar Cane
Botanically a tall grass of the genus Saccharum and agriculturally the produced from hybrids which are the progeny of a number of Saccharum species commonly referred to as cane. Specifically for the determination and distribution of sucrose in cane it is the raw material accepted at the mill for processing. Sugar No. 11 contract
Is the world benchmark contract for raw sugar trading.
The contract prices the physical delivery
vessel to a port within the country of origin of the sugar.
Supersaturation coefficient
Quotient formed by dividing ththe sugar/water ratio of a saturated solution under the same conditions(temperature and purity or Supersaturation, critical
Supersaturation at which nucleation begins spontaneou Surplus Sugar
Formerly known as C sugar, surplus sugar is that which is produced in excess quota. Starting in Sugar buy these feom beet growershandled. Syrup
General term for sugar solutions of higher concentration
Swedish number Ratio of the mass of cossettes longer than
Page (15)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
The fixed price in a range of fixed prices in the option market at which the calls or puts are traded, for a premium to the seller / granter.
D-glucopyranosyl-β-D-fructofuranoside, known
In the South African Sugar Industry sucrose is determined by GC.
Botanically a tall grass of the genus Saccharum and agriculturally the ids which are the progeny of a number of Saccharum species
commonly referred to as cane. Specifically for the determination and distribution of sucrose in cane it is the raw material accepted at the mill for processing.
ld benchmark contract for raw sugar trading.
The contract prices the physical delivery of raw cane sugar, free-on-board the receiver's
vessel to a port within the country of origin of the sugar.
Supersaturation coefficient
Quotient formed by dividing the sugar/water ratio of a supersaturated solution by the sugar/water ratio of a saturated solution under the same conditions(temperature and purity or no sugar/water ratio)
Supersaturation, critical
Supersaturation at which nucleation begins spontaneously.
Formerly known as C sugar, surplus sugar is that which is produced in Starting in 2006, there has been an agreement in place that British
these feom beet growers at a reduced price, similar to how C beet was
General term for sugar solutions of higher concentration.
Ratio of the mass of cossettes longer than 5 cm to those shorter than
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
The fixed price in a range of fixed prices in the option market at which the calls or
fructofuranoside, known
Botanically a tall grass of the genus Saccharum and agriculturally the crop ids which are the progeny of a number of Saccharum species
commonly referred to as cane. Specifically for the determination and distribution of sucrose in cane it is the raw material accepted at the mill for processing.
board the receiver's
e sugar/water ratio of a supersaturated solution by the sugar/water ratio of a saturated solution under the same conditions.
Formerly known as C sugar, surplus sugar is that which is produced in there has been an agreement in place that British
at a reduced price, similar to how C beet was
cm to those shorter than 1 cm.
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Switch Liquidating a futures position in one delivery month while simultaneously establishing that position in another delivery month. Transport water
Water used to transport beet Tel Quel
Literally Quality as is A method of buying or selling sugar when the seller includes the cost of the polarization premiums in the price. Therefpremiums are to be paid. Time Value The amount of the option premium that exceeds its intrinsic value. Tolling
The refining of imported raw sugar for Trade house
A company or corporation that his or her own account and risk. TCSC Thai Cane Sugar Corporation. TSTC Thai Sugar Trading Corporation. Turbinado sugar Turbinado sugar is raw sugar that has been refined to a light tan color by washing in a centrifuge under sanitary conditions. Surface molasses is removed in the washing process. In total sugar content turbinado is closer to refined sugar than to raw sugar. It can be purchased in many health food stores and some supermarkets. UK Scale Scale of polarization premiumssugar with a polarization from pro rata. No extra premium to be paid above U.S producers of sugar have switched to corn syru
The United States sets high sugar prices to support its producers, with the effect that many former consumers of sugar have switched to manufacturers) or moved
Page (16)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
a futures position in one delivery month while simultaneously establishing that position in another delivery month.
Water used to transport beet.
A method of buying or selling sugar when the seller includes the cost of the polarization premiums in the price. Therefore, no polarization premiums are to be paid.
The amount of the option premium that exceeds its intrinsic value.
The refining of imported raw sugar for re-exports as whites.
A company or corporation that buys sells and transports physical commodity for his or her own account and risk.
Thai Cane Sugar Corporation.
Thai Sugar Trading Corporation.
Turbinado sugar is raw sugar that has been refined to a light tan color by washing entrifuge under sanitary conditions. Surface molasses is removed in the
washing process. In total sugar content turbinado is closer to refined sugar than to raw sugar. It can be purchased in many health food stores and some
f polarization premiums. Buyer has to pay an extra 1.4% per degree for sugar with a polarization from 96 to 99 degree. Part of a degree to be charged
No extra premium to be paid above 99 degree.
U.S producers of sugar have switched to corn syrup
The United States sets high sugar prices to support its producers, with the effect that many former consumers of sugar have switched to corn syrup manufacturers) or moved out of the country (candy makers).
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
a futures position in one delivery month while simultaneously
A method of buying or selling sugar when the seller includes ore, no polarization
The amount of the option premium that exceeds its intrinsic value.
and transports physical commodity for
Turbinado sugar is raw sugar that has been refined to a light tan color by washing entrifuge under sanitary conditions. Surface molasses is removed in the
washing process. In total sugar content turbinado is closer to refined sugar than to raw sugar. It can be purchased in many health food stores and some
per degree for Part of a degree to be charged
The United States sets high sugar prices to support its producers, with the effect (beverage
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Variation in crystal size & color of brown sugars The natural brown sugars at sugarindia are notsugars. A non natural brown sugar is simply a white sugar crystal, which is then sprayed with some form coloring to give it a 'brown' appearance, in which case manufacturer has a option to control both grain size and color of finished product. Natural Brown sugars such as demerara, coffee sugar, muscovado etc are produced directly from sugar c Variation Margin
The amount of money that must be deposited in a futures account to restore the equity back to the initial margin requirement.
Ventilation of stored beet Introduction of air current in order to maintain desired storage temperature VHPs Very High Polarization Sugar. A nonBrazilian sugar that has a polarization between VHPs can refer to bulk raw with a polarization above VVHPs
Very Very High Polarization sugar. A nonBrazilian sugar with a polarization above Bks, which refers to VVHPs with a maximum ICUMSA of
WABCG World Association of Beet and Cane Growers Washing Washing of the crystals during centrifuging with syrup, water or steam Washing off Unloading of beet by water jet Wash run-off (syrup) Syrup produced in washing sugar during centrifuging
Wheat and Corn (maize) threaten the traditional sugar ma The Cheap prices of glucose syrups produced from wheat and corn threaten the traditional sugar market.Used in combination with artificial sweeteners they can allow drink manufacturers to produce very low
Page (17)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
Variation in crystal size & color of brown sugars
The natural brown sugars at sugarindia are not produced by coloring refined
A non natural brown sugar is simply a white sugar crystal, which is then sprayed with some form coloring to give it a 'brown' appearance, in which case manufacturer has a option to control both grain size and color of finished product. Natural Brown sugars such as demerara, coffee sugar, muscovado etc are produced directly from sugar cane.
The amount of money that must be deposited in a futures account to restore the equity back to the initial margin requirement.
Ventilation of stored beet
Introduction of air current in order to maintain desired storage temperature
Very High Polarization Sugar. A non-exact term that usually refers to bulk Brazilian sugar that has a polarization between 99.0 and 99.5 degreeVHPs can refer to bulk raw with a polarization above 99.5 degree.
larization sugar. A non-exact term that usually refers to bulk Brazilian sugar with a polarization above 99.5 degree. (They can also be called
which refers to VVHPs with a maximum ICUMSA of 750).
World Association of Beet and Cane Growers.
Washing of the crystals during centrifuging with syrup, water or steam
Unloading of beet by water jet
Syrup produced in washing sugar during centrifuging.
Wheat and Corn (maize) threaten the traditional sugar market
The Cheap prices of glucose syrups produced from wheat and corn threaten the traditional sugar market. Used in combination with artificial sweeteners they can allow drink manufacturers to produce very low-cost goods.
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
produced by coloring refined
A non natural brown sugar is simply a white sugar crystal, which is then sprayed with some form coloring to give it a 'brown' appearance, in which case manufacturer has a option to control both grain size and color of finished product. Natural Brown sugars such as demerara, coffee sugar, muscovado etc are
The amount of money that must be deposited in a futures account to restore the
Introduction of air current in order to maintain desired storage temperature.
exact term that usually refers to bulk degree. In Thailand
exact term that usually refers to bulk They can also be called
Washing of the crystals during centrifuging with syrup, water or steam
rket
The Cheap prices of glucose syrups produced from wheat and corn threaten the
Used in combination with artificial sweeteners they can allow drink
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Weather Working Day (WWD)
A working day of 24 consecutive hours except for any time when prevents the loading or unloading of the vessel or would have prevented it had work been progress. Weight variation in sachets
Weight variation in sugar sachets is an inevitable phenomenThough customers have nothing to lose.Sugarindia packs sachets/ tubes of sugar by weight & not by counting. Net weight of each carton is each or as the case may be. Whites Premiums Usually refers to the price differential between raw and white sugar as shown by the New York and London futures markets. (Expressed in dollars). WIBON Whether in Berth Or Not. If no loading or discharging berth is available on her arrival, the vessel, on reachentitled to tender notice of readiness from it and lay time shall continue in accordance with the charter party. WIFPON Whether In Free Pratique Or Not. The completion of customs formalities shalbe a condition precedent to tendering notice of readiness, but any time lost by reason of delay in the vessel’s completion of these formalities shall not count as lay time or time on demurrage.
Page (18)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
Weather Working Day (WWD)
consecutive hours except for any time when prevents the loading or unloading of the vessel or would have prevented it had work been
Weight variation in sachets
Weight variation in sugar sachets is an inevitable phenomenon. Though customers have nothing to lose. Sugarindia packs sachets/ tubes of sugar by weight & not by counting. Net weight of each carton is 10kg counting ideally 2000 sachets/ tubes of each or as the case may be.
s to the price differential between raw and white sugar as shown by the New York and London futures markets. (Expressed in dollars).
Whether in Berth Or Not. If no loading or discharging berth is available on her arrival, the vessel, on reaching any usual waiting place at or off the port, shall be entitled to tender notice of readiness from it and lay time shall continue in accordance with the charter party.
Whether In Free Pratique Or Not. The completion of customs formalities shalbe a condition precedent to tendering notice of readiness, but any time lost by reason of delay in the vessel’s completion of these formalities shall not count as lay time or time on demurrage.
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
consecutive hours except for any time when prevents the loading or unloading of the vessel or would have prevented it had work been
Sugarindia packs sachets/ tubes of sugar by weight & not by counting. tubes of 5 gms
s to the price differential between raw and white sugar as shown by
Whether in Berth Or Not. If no loading or discharging berth is available on her ing any usual waiting place at or off the port, shall be
entitled to tender notice of readiness from it and lay time shall continue in
Whether In Free Pratique Or Not. The completion of customs formalities shall not be a condition precedent to tendering notice of readiness, but any time lost by reason of delay in the vessel’s completion of these formalities shall not count as
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
TYPES OF SUGARS
SUGAR
Extra-shine & texture on baking.specially for the baking industry.
Baker's Sugar
Rich brown sugar having a nutty, caramel flavor, natural moistness, and subtle molasses aroma. Nutritious substitute for table sugar
Barbados
Granulated sugar melted to characteristics
Barley sugar
Light to dark brown sugar inherent molasses content. Its natural moistness and deep, rich aroma makes it ideal for full
Brown sugar
Produced by slow crystallization of a concentrated sugar solution, this sugar is commonly used in Belgium belight to dark. When added to beer, it thins out the high gravity beers and contributes color and, for the dark version, some residual caramel flavors.
Cane juice
Produced by slow crystallization of a concentrated sugarsugar is commonly used in Belgium beers. It comes in several colors light to dark. When added to beer, it thins out the high gravity beers and contributes color and, for the dark version, some residual caramel flavors.
Candy sugar
Sugar with extremely fine grain size making ittextured cakes and meringues, as well as for sweetening fruits and iced-drinks since it dissolves easil
Castor sugar (or caster sugar)
Finely crystallized refined sugar.
Chinese sugar
Lightly colored granulated sugar with added flavoring.
Cinnamon sugar
Large crystals of granulated sugar.
Coarse sugar
Large grained, sparkling, browndeveloped to bring out the true flavor of coffee beans
Coffee sugar
Equimolar mixture of glucose & fructose in liquid form. It absorbs moisture very fastsoluble in water and alcohol, and caramelizes fast
Invert sugar
Golden brown sugar crystals rolling with the sugarcane molasses.ideal for hot and cold beverages, sprinkling on cereals, or as a topping on cakes and cookies
Demerara sugar
Page (19)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
DESCRIPTION
-fine, fine-grained sugar with uniform grain size, gives perfect shine & texture on baking. As its name suggests, it has been developed specially for the baking industry.
Rich brown sugar having a nutty, caramel flavor, natural moistness, subtle molasses aroma. Nutritious substitute for table sugar
Granulated sugar melted to 185 deg C. No unique flavor or color characteristics. If heated to 200 deg C, it caramelizes
Light to dark brown sugar - with color & properties depending on inherent molasses content. Its natural moistness and deep, rich aroma makes it ideal for full-flavored recipes.
Produced by slow crystallization of a concentrated sugar solution, this sugar is commonly used in Belgium beers. It comes in several colors light to dark. When added to beer, it thins out the high gravity beers and contributes color and, for the dark version, some residual caramel flavors.
Produced by slow crystallization of a concentrated sugarsugar is commonly used in Belgium beers. It comes in several colors light to dark. When added to beer, it thins out the high gravity beers and contributes color and, for the dark version, some residual caramel flavors.
ar with extremely fine grain size making it ideal for extra fine textured cakes and meringues, as well as for sweetening fruits and
drinks since it dissolves easily.
Finely crystallized refined sugar.
Lightly colored granulated sugar with added flavoring.
Large crystals of granulated sugar.
Large grained, sparkling, brown-colored sugar crystals specially developed to bring out the true flavor of coffee beans
Equimolar mixture of glucose & fructose in liquid form. It absorbs moisture very fast, is about 25% sweeter than normal sugarsoluble in water and alcohol, and caramelizes fast
Golden brown sugar crystals rolling with the rich aroma of tropical sugarcane molasses. Its distinctive flavor and crunchy texture makes it ideal for hot and cold beverages, sprinkling on cereals, or as a topping on cakes and cookies
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
grained sugar with uniform grain size, gives perfect has been developed
Rich brown sugar having a nutty, caramel flavor, natural moistness, subtle molasses aroma. Nutritious substitute for table sugar
No unique flavor or color it caramelizes.
erties depending on inherent molasses content. Its natural moistness and deep, rich aroma
Produced by slow crystallization of a concentrated sugar solution, this ers. It comes in several colors -
light to dark. When added to beer, it thins out the high gravity beers and contributes color and, for the dark version, some residual caramel
Produced by slow crystallization of a concentrated sugar solution, this sugar is commonly used in Belgium beers. It comes in several colors - light to dark. When added to beer, it thins out the high gravity beers and contributes color and, for the dark version, some residual caramel
ideal for extra fine textured cakes and meringues, as well as for sweetening fruits and
Lightly colored granulated sugar with added flavoring.
colored sugar crystals specially developed to bring out the true flavor of coffee beans Equimolar mixture of glucose & fructose in liquid form. It absorbs
sweeter than normal sugar, is highly
rich aroma of tropical Its distinctive flavor and crunchy texture makes it
ideal for hot and cold beverages, sprinkling on cereals, or as a topping
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Introduction
Sugar Sugar, or sucrose, is a carbohydrate that occurs naturally in every the plant kingdom. It is a major product of Photosynthesis, the process by which plants transform the sun’s energy into food. Sugar occurs in greatest quantities insugarcane and sugar beetsseparated for commercial use.Table sugar (sucrose) comes from plant sources. In non-scientific use The term sugar refers to "table sugar" or "saccharine")
a white Crystalline Solid DisacCommercially produced table sugar comes either from Sugar Cane or from Sugar Beet. Scientifically sugar refers To any Monosaccharide or Disaccharide.Monosaccharide (also called "simple sugars") such as glucose, store chemical energy which biological cells convert to other types of energy.
The word "sugar" principally refers to
crystalline sugars, twocrops predominate:
Sugarcane
Sugar beets
Difference between sugar produced from sugar beets and sugar produced from sugarcane?
There is no difference in the sugar produced from either cane or beet. Sugarcane, a giant grass, thrives in a warm, moist climate, storing sugarin its stalk.
The sugar beet grows best in a temperate climate and storesits white root.
Sugar from both sources is produced by naturegreen plants produce sugar
Page (20)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
ugar, or sucrose, is a carbohydrate that fruit and vegetable in
Photosynthesis, the process by which plants transform the sun’s
Sugar occurs in greatest quantities in sugarcane and sugar beets from which it is separated for commercial use. Table sugar (sucrose) comes from plant
Sucrose (Also called "table sugar" or "saccharine")
Crystalline Solid Disaccharide. Commercially produced table sugar comes
Sugar Cane or from Sugar Beet.
Scientifically sugar refers
Monosaccharide or Disaccharide. Monosaccharide (also called "simple sugars") such as glucose, store chemical energy which ological cells convert to other types of energy.
The word "sugar" principally refers to
, two important sugar
Difference between sugar produced from sugar beets and sugar arcane?
There is no difference in the sugar produced from either cane or beet.Sugarcane, a giant grass, thrives in a warm, moist climate, storing sugar
The sugar beet grows best in a temperate climate and stores
Sugar from both sources is produced by nature in the same fashion as all green plants produce sugar - as a means of storing the sun’s energy.
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
Difference between sugar produced from sugar beets and sugar
There is no difference in the sugar produced from either cane or beet. Sugarcane, a giant grass, thrives in a warm, moist climate, storing sugar
The sugar beet grows best in a temperate climate and stores its sugar in
in the same fashion as all as a means of storing the sun’s energy.
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Sugar Cane
The plants are slow growing and require approximately months to ripen.
Once cut, sugarcane (actually within hours of being harvested) thus it must be processed immediately after cutting.
Sugarcane belongs to the genues saccharum, tribe Andropogoneae, and family poaceae (Graminea).
Sugar cane is really a type of When it is fully grown, it can be as tall as four or five Like all grasses, sugar cane has green leaves, a stalk and roots to collect sunlight, moisture and carbon dioxide which it uses to make its own food
Sugar cane grows best thrives on a combination of brightrainfall and fertile soil.
New cane is grown from pieces of cane stalk, Called setts, which are laid lengthwise in furrows which have been cut in
As the young cane grows, the land around it is cultivated to control weeds and let air and water into the soil.
In moist, warm conditions, the cane grows quickly. It is usually ready to harvest in Mature cane stands June and December in the Southern Hemisphere, when its sugar content is at its highest.
When the first cane is harvested, the stumps are left incanes grow from the stumps.
Two or three more crops can be produc These are called ratoon crops. Most cane sugar comes from countries with warm climates, such as Brazil, India,
China, Thailand, Mexico, and Australia, the top sugar producing countries
in the world.
Growing the Cane
Sugar cane is a sub-tropical and tropical crop that prefers lots of sun and lots of water - provided that its roots are not waterlogged. It typically takes about 12 months to reach maturity although the time varies widely around the world from as short as six months in Louisianato 24 months in some placesWhere it differs from many crops is that it rethe plant lasts many cycles [or 'ratoons', a word derived from the Spanish to sprout] before it is worn out.
Harvesting Sugar cane is harvested by chopping down the stems but leaving the roots so that it re-grows in time for the next crop. Harvest times tend to be during the dry season and the length of the harvest ranges from as little as 2 ½ months up to factory: often by truck or rail wagon but sometimeson a cart pulled by a bullock or a donkey!
Page (21)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
The plants are slow growing and require approximately 16
Once cut, sugarcane can start to deteriorate quickly (actually within hours of being harvested) thus it must be processed immediately after cutting. Sugarcane belongs to the genues saccharum, tribe Andropogoneae, and family poaceae (Graminea). Sugar cane is really a type of giant grass. When it is fully grown, it can be as tall as four or five metersLike all grasses, sugar cane has green leaves, a stalk and roots to collect sunlight, moisture and carbon dioxide which it uses to make its own food
Sugar cane grows best in tropical countries where it thrives on a combination of bright sunlight, heat, heavy rainfall and fertile soil. New cane is grown from pieces of cane stalk,
setts, which are laid lengthwise in furrows which have been cut in the field. the young cane grows, the land around it is cultivated
to control weeds and let air and water into the soil. In moist, warm conditions, the cane grows quickly. It is usually ready to harvest in 10 to 18 months. Mature cane stands 2 to 4 metres high and is usually harvested between June and December in the Southern Hemisphere, when its sugar content is
When the first cane is harvested, the stumps are left in the ground. New canes grow from the stumps. Two or three more crops can be produced this way. These are called ratoon crops. Most cane sugar comes from countries with warm climates, such as Brazil, India,
China, Thailand, Mexico, and Australia, the top sugar producing countries
pical and tropical crop that prefers lots of sun provided that its roots are not waterlogged. It
months to reach maturity although the time varies widely around the world from as short as six months in Louisiana
months in some places. Where it differs from many crops is that it re-grows from the roots so the plant lasts many cycles [or 'ratoons', a word derived from the Spanish to sprout] before it is worn out.
ugar cane is harvested by chopping down the stems but leaving the
grows in time for the next crop. Harvest times tend to be during the dry season and the length of the harvest ranges from
½ months up to 11 months. The cane is taken to the truck or rail wagon but sometimes
on a cart pulled by a bullock or a donkey!
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
meters. Like all grasses, sugar cane has green leaves, a stalk and roots to collect sunlight, moisture and carbon dioxide which it uses to make its own food.
is usually harvested between June and December in the Southern Hemisphere, when its sugar content is
the ground. New
Most cane sugar comes from countries with warm climates, such as Brazil, India,
China, Thailand, Mexico, and Australia, the top sugar producing countries
pical and tropical crop that prefers lots of sun
months to reach maturity although the time varies widely around the world from as short as six months in Louisiana
grows from the roots so
ugar cane is harvested by chopping down the stems but leaving the grows in time for the next crop. Harvest times tend
to be during the dry season and the length of the harvest ranges from
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Sugar beet
Beet sugar comes from regions withNorthwest and eastern Europe,areas in the United States (including
Cuba, the EU, Australia, Thailand, Brazil, Ukraine (sugarbeets) and China are the largest exporters.In the Northern Hemisphere, the beetwith the start of harvesting around September.
Harvesting In the growing and harvesting of sugar beet, timing iscritical.
The harvesting period, known as the 'campaign' amongst farmers, takes place between September and Christmas when the amount of sugar in Begins the middle of September and continues untilCompleted, usually by midSugar beet was harvested at five different times 155, 171 & 187 days after emergenceSugar beet provides more than onein United States and about Production in the world. Top Ten Countries by Sugar Beet Production
According to the Food and Agricultural Organization of the United Nations, in 2007 the United States produced enough to make the United Statesfirst, producing 32,338,000
Page (22)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
regions with coole climates:
ern Europe, northern Japan, plus some areas in the United States (including California).
Cuba, the EU, Australia, Thailand, Brazil, Ukraine (sugarbeets) and China are the largest exporters. In the Northern Hemisphere, the beet-growing season ends
start of harvesting around September.
In the growing and harvesting of sugar beet, timing is
The harvesting period, known as the 'campaign' amongst farmers, takes place between September and Christmas when the amount of sugar in the beet is at its highest.
Begins the middle of September and continues until Completed, usually by mid-November. Sugar beet was harvested at five different times (123, 139,
days after emergence). Sugar beet provides more than one- half of sugar produced
States and about 40% of sugar
Top Ten Countries by Sugar Beet Production 2008
According to the Food and Agricultural Organization of the United Nations, in the United States produced 31,912,000 tonnes of sugar beets
enough to make the United States Ranks Second in that category. France ranked 32,338,000 tonnes.
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
According to the Food and Agricultural Organization of the United Nations, in tonnes of sugar beets, which was
in that category. France ranked
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Ethanol from Sugar More than half of world ethanol production is produced from sugar and sugar byproducts, with Brazil being by far the world leader. Currently, there is no commercial production of ethanol from sugarcane or sugar beets in the United States, where 97 percent of ethanol is produced from corn Technologically, the process of producing ethanol from sugar is simpler than converting corn into ethanol. Converting corn into ethanol requires additional cooking and the application of enzymes, whereas the conversion of sugar requires only a yeast fermentation process. The energy requirement for converting sugar into ethanol is about half that for
Factors impacting sugar to ethanol viability
Corn is currently the leastethanol production. Ethanol from sugarcane or sugar beet feedstocks costs twice as much. USDA’s recent sugar/ethanol report provides these comparative production costs.High oil prices have spurred interest in ethanol, to put it mildly. But for how long? (Prices were dropping at press deadline in September.) With ethanol prices hovering near summer, the USDA report concludes tprofitable to produce ethanol from sugar and sugar byproducts. However, if ethanol prices were to drop below gallon, it would not be profitable to use raw or refined sugar as a feedstock. Based on current futures prices, the price
The EU convert refined sugar to ethanol Production and consumption
Europe’s fuel ethanol sector was a slow starter. It took almost 10 years to grow production from in 1993 to 525 million litreIn the following two years we saw a true explosion in production. In 2005 and 2006 there were double70%. After a moderate growth in 13% compared to the previous yearspike in 2008. Last year, total EU bioethanol production significantly increased by 56%, from 1.8in 2008.
Compared to the U.S.A. and Brazil, but also to the European biodiesel sector, the EU fuel alcohol sect
Page (23)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
More than half of world ethanol production is produced from sugar and sugar byproducts, with Brazil being by
Currently, there is no commercial production of ethanol from sugarcane or sugar beets in the United
percent of ethanol is produced from corn
Technologically, the process of producing ethanol from sugar is simpler than to ethanol. Converting corn into ethanol requires additional
cooking and the application of enzymes, whereas the conversion of sugar requires only a yeast fermentation process. The energy requirement for converting sugar into ethanol is about half that for corn.
sugar to ethanol viability
Corn is currently the least-cost feedstock available for ethanol production. Ethanol from sugarcane or sugar beet feedstocks costs twice as much. USDA’s recent sugar/ethanol report provides these mparative production costs.
High oil prices have spurred interest in ethanol, to put
But for how long? (Prices were dropping at press
With ethanol prices hovering near $4 a gallon this summer, the USDA report concludes that it would be profitable to produce ethanol from sugar and sugar
if ethanol prices were to drop below $2.35 a gallon, it would not be profitable to use raw or refined sugar as a feedstock. Based on current futures prices, the price of ethanol is expected to drop.
refined sugar to ethanol Market
Production and consumption
Europe’s fuel ethanol sector was a slow starter. years to grow production from 60 million litres
million litres in 2004. In the following two years we saw a true explosion in production.
there were double-digit growth levels of over
After a moderate growth in 2007, when production increased by compared to the previous year, figures reached another
Last year, total EU bioethanol production significantly 1.8 billion in 2007 to 2.8 billion
Compared to the U.S.A. and Brazil, but also to the European biodiesel sector, the EU fuel alcohol sector is
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
Technologically, the process of producing ethanol from sugar is simpler than to ethanol. Converting corn into ethanol requires additional
cooking and the application of enzymes, whereas the conversion of sugar requires only a yeast fermentation process. The energy requirement for converting sugar
gallon, it would not be profitable to use raw or refined sugar as a feedstock. of ethanol is expected to drop.
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
rather small. The USA nowadays produces every month more than the EU produce in a year. Moreover, the EU biofuel market is still predominantly a biodiesel market (80%).
The top 4 EU producers of ethanol are FranceSpain and Poland, followed by Sweden and the UK. The top 6 consumers are FrancePoland and the Netherlandsyear in terms of imports. Total imports of bioethanol (fuel and nonestimated to have reached compared to 2007. Thereofonly. Approximately 50% of total imports have been used for the fuel sector (approximately 1.1 billion litres
Production capacity The EU production capacity is steadily increasing. At present, the installed capacity amounts to 6.1 billion litresconstruction is 2.4 billion litres
Use of raw material In 2007 the preferred raw material was grain and, more in particular, wheat. A relatively big part is still covered by sugar beet (molasses) and a smaller share is produced from raw alcoholshift (mainly in Germany) If we look at the bigger picture of grain use in the EU it becomes immediately clear that bioethanol production is only a marginal consumer of grain. Almost 69% of Europe’s cereals go to the animal feed sector whereas approximately only 2% of all cereals is destined for the bioethanolOf this extremely small share about one third goes back to the animal feed sector as a high protein animal feed called DDGS. This by-product replaces imported soya meal
BRAZILIAN SUGAR
Brazilian sugar is the most plentiful sugar in the world, due to the fact that Brazil is the largest producer of sugar in the world. Every year Brazil produces up to thirty million tons of sugar, much of which is sold offshore. The majority of Brazilian sugar iswhich is almost always produced for export and subsequent refining in other countries. A smaller amount of ICUMSA consumption and international export.
Page (24)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
rather small. The USA nowadays produces every month more than the EU produce in a year. Moreover, the EU biofuel market is still predominantly a biodiesel market
EU producers of ethanol are France, Germany, wed by Sweden and the UK. The
consumers are France, Germany, Sweden, the UK, Poland and the Netherlands. 2008 was also a record year in terms of imports. Total imports of bioethanol (fuel and non-estimated to have reached 1.9 billion litres in 2008, increasing by 400
Thereof, between 1.4 and 1.5 billion litres came from Brazil
of total imports have been used for the fuel sector billion litres). This equals 39% of total EU production.
The EU production capacity is steadily increasing. At present, the installed billion litres, while production capacity under
billion litres.
preferred raw material was grain and, more in particular, wheat. A relatively big part is still covered by sugar beet (molasses) and a smaller share is produced from raw alcohol. In 2008, due to higher grain prices, we have seen a shift (mainly in Germany) to sugar beet juice.
If we look at the bigger picture of grain use in the EU it becomes immediately clear that bioethanol production is only a marginal consumer of grain.
of Europe’s cereals go to the animal feed sector whereas of all cereals is destined for the bioethanol.
Of this extremely small share about one third goes back to the animal feed sector as a high protein animal feed called DDGS.
product replaces imported soya meal.
sugar is the most plentiful sugar in the world, due to the fact that Brazil is the largest producer of sugar in the world.
Every year Brazil produces up to thirty million tons of sugar, much of which is sold offshore.
The majority of Brazilian sugar is VHP raw sugar, which is almost always produced for export and subsequent refining in other countries.
A smaller amount of ICUMSA 45 sugar is also produced both for local consumption and international export.
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
-fuel) are 400 million
billion litres came from Brazil
of total imports have been used for the fuel sector production.
The EU production capacity is steadily increasing. At present, the installed production capacity under
preferred raw material was grain and, more in particular, wheat. A relatively big part is still covered by sugar beet (molasses) and a smaller share is
we have seen a
If we look at the bigger picture of grain use in the EU it becomes immediately clear that bioethanol production is only a marginal consumer of grain.
of Europe’s cereals go to the animal feed sector whereas .
Of this extremely small share about one third goes back to the animal feed sector
sugar is also produced both for local
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Brazilian sugar exports make up sugar exports, which explains how Brazilian sugar comes to be found in baked goods, drinks, and other foodstuffs the world over.
Producing Brazilian Sugar
Brazilian sugar is grown largely of Brazil. The majority of Brazil’s sugarcane is produced in the southern portion of the country.northeast Brazil. The State of São Paulo (mapBrazil’s sugar and accounts for sugar exports. In the south, sugarcane production occurs between
May and November. In the northeast production occurs between September and March. The first sugar plantations and mills were founded in these states by the Dutch, who used slave labor to plant, harvest, mill and process sug Today there are still numerous sugar plantations and mills in this region in spite of the fact that it is considerably less fertile than the Sao Paulo region, not to mention harder to harvest due to hilly terrain.
All sugar produced in Brazil is produced from sugar cane, of which there are many varieties.
Types of Brazilian Sugar for Export Brazil exports large amounts of VHP raw sugar, in fact VHP makes up the bulk of Brazilian exports. VHP is very high pol sugar, a term that sugar has a high sucrose level. VHP sugar is 99.4% sucroseVHP sugar quickly became the world’s most popular Unlike other forms of raw sugar, VHP contains relatively contaminants and is easier and quicker to refine than raw sugar. Aside from VHP sugar, Brazil also exports refined sugars from ICUMSA 150 Large quantities of ICUMSA rare, as Brazil has largely based its sugar export industry on the export of raw sugar which is then refined in the destination country at the buyer’s expense.
Page (25)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
Brazilian sugar exports make up 40% of total global sugar exports, which explains how Brazilian sugar comes to be found in baked goods, drinks, and other foodstuffs the world over.
Brazilian Sugar
Brazilian sugar is grown largely in the Sao Paulo region
zil’s sugarcane is produced in the southern portion of the country. It is also produced in
map) produces 60 percent of Brazil’s sugar and accounts for 70 percent of Brazilian
ane production occurs between
In the northeast production occurs between September
The first sugar plantations and mills were founded in these states by the Dutch, who used slave labor to plant, harvest, mill and process sugar cane into sugar.
Today there are still numerous sugar plantations and mills in this region in spite of the fact that it is considerably less fertile than the Sao Paulo region, not to mention harder to harvest due to hilly terrain.
in Brazil is produced from sugar
of which there are many varieties.
Types of Brazilian Sugar for Export
Brazil exports large amounts of VHP raw sugar, in fact VHP makes up the bulk of
VHP is very high pol sugar, a term that means that the sugar has a high sucrose level.
sucrose. Invented by Brazilians in VHP sugar quickly became the world’s most popular Unlike other forms of raw sugar, VHP contains relatively
ier and quicker to refine than
Aside from VHP sugar, Brazil also exports refined 150 to ICUMSA 45.
Large quantities of ICUMSA 45 especially are relatively rare, as Brazil has largely based its sugar export
y on the export of raw sugar which is then refined in the destination country at the buyer’s
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
Brazil exports large amounts of VHP raw sugar, in fact VHP makes up the bulk of
1993, sugar export. few traditional
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Brazilian Ethanol Production
Brazil is the world’s number two ethanol producer and the leading ethanol exporter, using sugarcane as its feedstock Brazilian Sugar and Ethanol Industry
During the 2007/2008 harvestrecord amount of 496 million tons of sugarcane and produced 31 million tons of sugar and million cubic meters of ethanol. Around twoof the sugar produced in Brwas exported, with raw sugar accounting for more than 65% of foreign sales
Source: GAIN report BR8013Service, 2008.
U.S. and Brazilian Ethanol Comparison
The United States and Brazil are the two largest ethanol producers in
the world Together they account for almost 90 percent of world
production.
U
Brazil
European
Union
China
Canada
Other
Total
Source: Renewable Fuels Association
Page (26)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
Brazilian Ethanol Production
Brazil is the world’s number two ethanol producer and the leading ethanol exporter, using sugarcane as its feedstock
razilian Sugar and Ethanol Industry
harvest, Brazil crushed a million tons of sugarcane
million tons of sugar and 22.5 million cubic meters of ethanol. Around two-thirds of the sugar produced in Brazil (18.6 million tons) was exported, with raw sugar accounting for
of foreign sales.
8013, USDA Foreign Agricultural
U.S. and Brazilian Ethanol Comparison
The United States and Brazil are the two largest ethanol producers in
the world Together they account for almost 90 percent of world
Country Million
Gallons
USA 6,499
Brazil 5,019
European
Union
570
China 486
Canada 211
Other 316
Total 13,102
Source: Renewable Fuels Association
Year * Million Gallons
2003/04 3,910 2004/05 4,068 2005/06 4,174 2006/07 4,719 2007/08 5,916 2008/09** 7,054
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
International Sugar Organization (ISO)
The ISO provides a forum for intersugar issues including ways of improving the world sugar economy. Its primary objective is to ensure enhanced international cooperation in connection with world sugar matters. It also provides extensive information on the world sugar market and The ISO is based in London(based on data for 2007):
• 82% of world sugar production • 66% of world sugar consumption • 93% of world exports • 38% of world imports
The ISO exists to administer thSugar Agreement (ISA), the objectives of which are:
• To ensure enhanced international cooperation in connection with world sugar matters and related issues.
• To provide a forum for intergovernmental consultatways to improve the world sugar economy.
• To facilitate trade by collecting and providing information on the world sugar market and other sweeteners.
• To encourage increased demand for sugar, particularly for nonuses.
The Global Alliance for Sugar Trade Reform and The Global Alliance for Sugar Trade Reform and Liberalization brings together 85% of the world raw cane exportsSugar Alliance members (Australia, Brazil, Canada, Chile, Colombia, India, Guatemala, South Africa and Thailand) are active advocates to improve the world sugar trading environment. Members work closely together to ensure the fair and equal treatment of sugar and ethanol in the WTO negotiations on agriculture so that marketThe Global Alliance for Sugar Trade Reform and Liberalization was established during in November 1999 The world’s sugarcane producers have the potential to contribute significantly to the solution of two current global challenges:
• Climate change and • Trade liberalization.
This was the focus of the declaration signed by the Global Alliance for Sugar Trade Reform & Liberalizationin São Paulo, Brazil to discuss matters of relevance to tmarket. The Alliance represents over been an active voice in the World Trade Organization’s (WTO) Doha Round negotiations.
Page (27)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
International Sugar Organization (ISO)
The ISO provides a forum for inter-Governmental consultations on key sugar issues including ways of improving the world sugar economy. Its primary objective is to ensure enhanced international cooperation in connection with world sugar matters. It also provides extensive information on the world sugar market and other sweeteners
The ISO is based in London, the 84 member states of the ISO represent ):
of world sugar production of world sugar consumption of world exports of world imports
The ISO exists to administer the internationally negotiated 1992 International Sugar Agreement (ISA), the objectives of which are:
To ensure enhanced international cooperation in connection with world sugar matters and related issues. To provide a forum for intergovernmental consultations on sugar and on ways to improve the world sugar economy. To facilitate trade by collecting and providing information on the world sugar market and other sweeteners. To encourage increased demand for sugar, particularly for non
he Global Alliance for Sugar Trade Reform and Liberalization
The Global Alliance for Sugar Trade Reform and Liberalization of the world raw cane exports. The Global
Sugar Alliance members (Australia, Brazil, Canada, Chile, dia, Guatemala, South Africa and Thailand) are active
advocates to improve the world sugar trading environment. closely together to ensure the fair and equal
treatment of sugar and ethanol in the WTO negotiations on agriculture so that markets are allowed to work. The Global Alliance for Sugar Trade Reform and Liberalization was established
1999.
The world’s sugarcane producers have the potential to contribute significantly to the solution of two current global challenges:
change and liberalization.
This was the focus of the declaration signed by the Global Alliance for Sugar Liberalization, whose members met on Wednesday
in São Paulo, Brazil to discuss matters of relevance to the international sugarcane The Alliance represents over 85% of world raw sugar exports and has
been an active voice in the World Trade Organization’s (WTO) Doha Round
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
ions on key sugar issues including ways of improving the world sugar economy. Its primary objective is to ensure enhanced international cooperation in
member states of the ISO represent
International
To ensure enhanced international cooperation in connection with world
ions on sugar and on
To facilitate trade by collecting and providing information on the world
To encourage increased demand for sugar, particularly for non-traditional
Liberalization
The Global Alliance for Sugar Trade Reform and Liberalization was established
The world’s sugarcane producers have the potential to contribute significantly to
This was the focus of the declaration signed by the Global Alliance for Sugar whose members met on Wednesday (Oct.21/2009)
he international sugarcane of world raw sugar exports and has
been an active voice in the World Trade Organization’s (WTO) Doha Round
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
World Food Price Inflation in FAO Report
The upturn in international food prices that began in 2006 escalated into a surge of food price inflation around the world, increasing food insecurity, leadingto violent protests and even raising fears about international security. Africa was perhaps hardest hit,global. Reports of the impact of high foodthe poor across many developingcalls for international actiontowards increased poverty and malnutrition. Food aid agencies such as the World(WFP) encountered difficulties in meeting thecosts of purchasing food forfor additional funds. The FAO food price indexand 27 percent in 2007, and that increase persisted and accelerated in the first half of Since then, prices have fallen steadily buttheir longer-term trend levels. For 2008, the FAO food price indexpercent above 2007 and Looking at prices in real terms (deflatedBank’s Manufactures Unitincreases are still significant. Real prices have shown atrend punctuated by typically short There is some suggestion of a1980s with a gradual recovery beginning in the sharp increase in 2006growth rate of 1.3 percentjumped to 15 percent since Prices are commonly expressed indepreciation in the value of thecost of commodities for countries whose currencies arestronger than the US dollar, resulting in aof food price increases to aHowever, for countries whthe US dollar, depreciation in the US dollarMore than 30 developing countries peg their
Page (28)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
World Food Price Inflation in 2007/2008
in international food prices that began in surge of food price inflation
around the world, increasing food insecurity, leading to violent protests and even raising fears about
perhaps hardest hit, but the problem was global. Reports of the impact of high food prices on the poor across many developing countries led to calls for international action to reverse the slide
poverty and malnutrition.
such as the World Food Programme encountered difficulties in meeting the higher
costs of purchasing food for distribution and appealed
The FAO food price index1 rose by 7 percent in 2006 and that increase persisted
ccelerated in the first half of 2008. then, prices have fallen steadily but remain above
levels.
the FAO food price index still averaged 24 57 percent above 2006.
l terms (deflated by the World Bank’s Manufactures Unit Value Index [MUV]), the
significant.
Real prices have shown a steady long-run downward punctuated by typically short-lived price spikes.
There is some suggestion of a flattening out since the late gradual recovery beginning in 2000 before
2006 – the average annual percent for the period 2000–05 has
percent since 2006.
are commonly expressed in US dollars; depreciation in the value of the US dollar reduces the
for countries whose currencies are stronger than the US dollar, resulting in a cushioning of food price increases to a greater or lesser extent.
countries whose local currencies are pegged to or are weaker than US dollar, depreciation in the US dollar increases the cost of procuring food.
developing countries peg their currency to the US dollar.
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
pegged to or are weaker than increases the cost of procuring food. currency to the US dollar.
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Did the prices of all agricultural commodi
While almost all agricultural productThe rate of increase varied significantlyIn particular, international prices of basicdairy products, increased far more dramaticallyproducts, such as coffee and cocoa, and raw materials, Therefore, developing countries dependent onfound that while their export earnings might haveslower rate than the cost of their food imports. As many developing countries are net foodbalance of payments problem. What was different about The leap in food prices was in sharpand the prolonged slump in commodityprompted calls for the revival ofFor some analysts, the increases agricultural commodity prices, withend of cheap food”. Others saw the beginnings of a potential world food crisis. It is an interesting question whether thesedifferent from earlier price spikes andprices could have come to a halt,agricultural commodity market behaviour. High-price events, like lowmarkets, although high prices often tendprices, which persist for longer periods.What has distinguished this episode wasprices of not just a few but of nearly all major foodpossibility that the prices may remain high after thedissipate. The price boom was also accompanied by much higher price volatthan in the past, especially in the cereals and oilseeds sectors, highlighting the greater
In the first four months of record highs (volatility in wheat prices was twwhile rice price volatility was five times higher). The increase in volatility was not confined toproducts and sugar all witnessed muchpast. High volatility means uncertainty, whichand sellers. Greater uncertainty limitsand tends to result in theexpense of innovation and entrepreneurship. In addition, the wider and more unpredictable the priceare, the greater is the possibility of realizing large gains byprice movements of that commodity.
Page (29)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
Did the prices of all agricultural commodities increase in the same way?
While almost all agricultural product prices increased at least in nominal terms,rate of increase varied significantly from one commodity to another.
particular, international prices of basic foods, such as cereals, oilseeds and products, increased far more dramatically than the prices of tropical
as coffee and cocoa, and raw materials, such as cotton or rubber.
developing countries dependent on exports of these latter products while their export earnings might have been increasing this was at a than the cost of their food imports.
many developing countries are net food importers, this imposed a serious of payments problem.
What was different about the 2007–08 food price increases?
The leap in food prices was in sharp contrast to the secular downward trendand the prolonged slump in commodity prices from 1995 to 2002, which evenprompted calls for the revival of international commodity agreements.or some analysts, the increases signaled the end of the long-term decline in realagricultural commodity prices, with The Economist (2007) announcing “the
Others saw the beginnings of a potential world food crisis.
ng question whether these sharp increases are fundamentallydifferent from earlier price spikes and whether the long-term decline in realprices could have come to a halt, signalling a fundamental change inagricultural commodity market behaviour.
ice events, like low-price events, are not rare occurrences in agriculturalmarkets, although high prices often tend to be short-lived compared with lowprices, which persist for longer periods. What has distinguished this episode was the concurrence of the hike in world
of not just a few but of nearly all major food and feed commodities and the that the prices may remain high after the effects of short
The price boom was also accompanied by much higher price volatpast, especially in the cereals and oilseeds sectors,
highlighting the greater uncertainty in the markets.
months of 2008, volatility in wheat and rice prices approached (volatility in wheat prices was twice the level of the previous year
volatility was five times higher). increase in volatility was not confined to cereals – vegetable oils, livestock
products and sugar all witnessed much larger price swings than in the recent
gh volatility means uncertainty, which complicates decision-making for buyers
Greater uncertainty limits opportunities for producers to access credit markets and tends to result in the adoption of low-risk production technologies at the
and entrepreneurship. wider and more unpredictable the price changes in a commodity
the possibility of realizing large gains by speculating on future that commodity.
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
ties increase in the same way?
prices increased at least in nominal terms, from one commodity to another.
oilseeds and than the prices of tropical
such as cotton or rubber.
exports of these latter products been increasing this was at a
importers, this imposed a serious
?
contrast to the secular downward trend which even
international commodity agreements. term decline in real
announcing “the
sharp increases are fundamentally term decline in real
signalling a fundamental change in
are not rare occurrences in agricultural lived compared with low
e hike in world and feed commodities and the effects of short-term shocks
The price boom was also accompanied by much higher price volatility2 past, especially in the cereals and oilseeds sectors,
rice prices approached level of the previous year
vegetable oils, livestock larger price swings than in the recent
making for buyers
credit markets technologies at the
changes in a commodity speculating on future
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Annual food prices, in nominal and real US
Thus, volatility can attract significant speculative activity,initiate a vicious cycle of At the national level, many developing countries are stillprimary commodities, either in their exports orWhile sharp price spikes can be aeconomy, they can also heighten the costinputs. At the same time, large fluctureal exchange rates of countries, putting a severe strain onhampering their efforts to reduce poverty.
The end of “cheap food”? Soaring food prices came as a shockworld had become accustomed to theUp until 2006, the real cost of the global foodhalf in the previous 30 years2–3 percent per year in real termsTechnological advances greatly reducedTogether with widespread subsidies inEconomic Co-operation andEfficient and cheaper productionRole of a few countries in supplying the This supply-driven agricultural paradigm sent real pricestrend lasting for decades. Added to this, changes in theInstrumental in reducing stock levels anddependence on imports to meet food needs. Put together, these developments haveexporting countries to supply internationalSurprising that when production shortagesconsecutive years, global supplies aretightness is manifest in both This was precisely the case in the run Against this backdrop, the world’sdriven by rising global incomes and population and thenproduction, left major exporters with little opportunity toExtreme price volatility for severalPrompting fears of a wide
Page (30)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
in nominal and real US$ terms, 1957
attract significant speculative activity, which in turn can destabilizing cash prices.
level, many developing countries are still highly dependent on commodities, either in their exports or imports.
While sharp price spikes can be a temporary boon to an exporter’s economy, they can also heighten the cost of importing foodstuffs and agricultural
fluctuations in prices can have a destabilizing effect on of countries, putting a severe strain on their economy and
to reduce poverty.
The end of “cheap food”?
Soaring food prices came as a shock partly because consumers throughout theworld had become accustomed to the notion of so-called “cheap food”.
the real cost of the global food basket had fallen by almost one years, with prices of many foodstuffs falling on average by
percent per year in real terms. Technological advances greatly reduced the cost of producing foodstuffs and this,
with widespread subsidies in countries of the Organizationoperation and Development (OECD) that rendered more
and cheaper production elsewhere unprofitable, entrenched theof a few countries in supplying the world with food.
agricultural paradigm sent real prices spiraling downward on a decades. hanges in the market and policy setting have been
in reducing stock levels and have led to far more planned on imports to meet food needs.
together, these developments have resulted in a significant role for majorntries to supply international markets as needed. Therefore, it is not
that when production shortages occur in such countries, particularly inconsecutive years, global supplies are stretched and the ensuing markettightness is manifest in both higher prices and higher volatility.
the case in the run-up to the recent price surge.
Against this backdrop, the world’s growing demand for agricultural commodities, incomes and population and then expansion iexporters with little opportunity to replenish stocks.
Extreme price volatility for several commodities was another factor fears of a wide-scale crisis.
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
1957–2008
which in turn can
endent on
of importing foodstuffs and agricultural
destabilizing effect on their economy and
umers throughout the called “cheap food”.
basket had fallen by almost one-many foodstuffs falling on average by
the cost of producing foodstuffs and this, Organization for
Development (OECD) that rendered more elsewhere unprofitable, entrenched the
downward on a
have led to far more planned
resulted in a significant role for major markets as needed. Therefore, it is not occur in such countries, particularly in
stretched and the ensuing market
surge.
commodities, expansion in biofuel replenish stocks.
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Sugar(World Production Distribution) PRODUCTION
World sugar production to decline by tonnes in 2008/09. FAO has revised its estimates for world sugar production to 158.5 million tonnes in
which is 2.5 million below the first estimate released in November or 5.4 percent less than in The revision was largely caused by a deterioration
of production prospects in India, where sugar output is now estimated to have fallen by a drastic 45 percent.
The drop would ensue from a decline in planted area, as many producers allocated land to alternative, more remunerative, crops, such as maize and soybeans.
World production and consumption of sugar
WORLD BALANCE
Production
Trade
Utilization
Ending stocks
SUPPLY AND DEMAND INDICATORS
Per caput food consumption:
World kg/year
LIFDC kg/year
World stock-to-use ratio
%
ISA Daily Price Average
(United States cents/lb)
Page (31)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
Sugar(World Production - Supply and
World sugar production to decline by 9 million
FAO has revised its estimates for world sugar million tonnes in 2008/09,
million below the first estimate released in November 2008, and 9 million tonnes,
percent less than in 2007/08. The revision was largely caused by a deterioration
of production prospects in India, where sugar output is now estimated to have fallen by a drastic
The drop would ensue from a decline in planted a, as many producers allocated land to
alternative, more remunerative, crops, such as
World production and consumption of sugar
2006/07 2007/08
estim 2008/09 f’cast
Changeover
million tonnes
166.1 167.6 158.5
46.7 47.3 50.2
154.0 158.4 162.2
73.3 80.9 76.3
SUPPLY AND DEMAND
Per caput food consumption:
kg/year 22.5 23.1 23.4
kg/year 12.9 13.4 13.7
% 47.6 51.1 47.0
2007 2008 2009* Jan
Jan
ISA Daily Price Average
10.08 12.80 13.78
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
Change: 2008/09 over 2007/08
%
-5.4
6.0
2.4
-5.7
1.3
1.8
Change:
Jan-May 2009
over Jan-May 2008
%
8.8
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
In addition to India, sugar production contracted in Australia, the
European Union, Pakistan and the United States, with relatively small decreases foreseen in Thailand.
However, in the Latin America and Caribbean region, sugar production in Brazil (October/September) is expe2008/09, about 29 percent more than in harvest time, which reduced yields.
Sugar-cane production is set to reach corresponds to a 15 percent increase from las12 percent expansion in cane planted area.
It is estimated that about
harvest will be processed into canereturns from domestic ethanol relative to export ma
However, if international sugar prices continue to augment, providing no upsurge in crude oil prices, the share of cane directed to sugar should be
expected to increase. Elsewhere in the region, sugar production in Colombia is expected to increaseremain relatively unchanged in Argentina and decline slightly in Peru.
Page (32)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
sugar production contracted in Australia, the
European Union, Pakistan and the United States, with relatively small decreases foreseen in Thailand.
However, in the Latin America and Caribbean region, sugar production in Brazil (October/September) is expected to rise to 39.6 million tonnes in
percent more than in 2007/08, despite heavy rains at harvest time, which reduced yields.
cane production is set to reach 566 million tonnes, which percent increase from last year, on account of a
percent expansion in cane planted area.
It is estimated that about 60 percent of Brazil’s 2008/09 sugar
harvest will be processed into cane-based ethanol, buoyed by higher returns from domestic ethanol relative to export markets.
However, if international sugar prices continue to augment, providing no upsurge in crude oil prices, the share of cane directed to sugar should be
expected to increase. Elsewhere in the region, sugar production in Colombia is expected to increase by 3 percent in 2008/09, while it should remain relatively unchanged in Argentina and decline slightly in Peru.
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
sugar production contracted in Australia, the
European Union, Pakistan and the United States, with relatively small
However, in the Latin America and Caribbean region, sugar production in million tonnes in
despite heavy rains at
which t year, on account of a
sugar-cane
based ethanol, buoyed by higher
However, if international sugar prices continue to augment, providing no upsurge in crude oil prices, the share of cane directed to sugar should be
expected to increase. Elsewhere in the region, sugar production in while it should
remain relatively unchanged in Argentina and decline slightly in Peru.
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Industry structure and development Brazil with consistent and considerable increase in cane production continues to remain thIndia is the second largest but with a chequered track record of wide swings in year on year sugar production.
India however remains unchallenged as the top sugar consumer despite low level of per capita consumption. Cane sugarbeet, trouncing the share of latter from
World sugar production during decline due to decisive downfall in Indian production.
Accordingly world sugar balance wThe deficit would have loomed larger but for the relentless rise in Brazilian cane production and usage of relatively larger share of cane
crop for sugar with concomitant decline in the share of ethanol. Despite the economic recession world over, sugar consumption growth was less impacted and remained positive. The supply
disequilibrium has been caused essentially by the strident slippage in Indian production, exacerbated by the decline in EU and other Asian countries.
Source: ISO The correction after surging surplus for two years in a row has come as good relief to sugar producers world over. Such tightness in supply is sure to be witnessed during
Brazil’s share in world export is expected to overshoot the half way mark to 53% this year as against
Page (33)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
Industry structure and development
Brazil with consistent and considerable increase in cane production continues to remain the dominant sugar producer. India is the second largest but with a chequered track record of wide swings in year on year sugar production.
India however remains unchallenged as the top sugar consumer despite low level of per capita consumption. Cane sugar has steadfastly displaced
trouncing the share of latter from 43.5% in the 1960s to
World sugar production during 2008-09 has displayed a discernible decline due to decisive downfall in Indian production.
Accordingly world sugar balance would turn deficit by 7.8 mln tonnesThe deficit would have loomed larger but for the relentless rise in Brazilian cane production and usage of relatively larger share of cane
crop for sugar with concomitant decline in the share of ethanol.
conomic recession world over, sugar consumption growth was less impacted and remained positive. The supply-demand
disequilibrium has been caused essentially by the strident slippage in Indian production, exacerbated by the decline in EU and other Asian
The correction after surging surplus for two years in a row has come as good relief to sugar producers world over. Such tightness in supply is sure to be witnessed during 2009-10 as well.
rld export is expected to overshoot the half way mark this year as against 29% a decade ago.
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
Brazil with consistent and considerable increase in cane production
India is the second largest but with a chequered track record of wide
India however remains unchallenged as the top sugar consumer despite has steadfastly displaced
s to 20% now.
has displayed a discernible
mln tonnes. The deficit would have loomed larger but for the relentless rise in Brazilian cane production and usage of relatively larger share of cane
crop for sugar with concomitant decline in the share of ethanol.
conomic recession world over, sugar consumption growth demand
disequilibrium has been caused essentially by the strident slippage in Indian production, exacerbated by the decline in EU and other Asian
The correction after surging surplus for two years in a row has come as good relief to sugar producers world over. Such tightness in supply is
rld export is expected to overshoot the half way mark
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
Sugar Futures and Options Trading
Located at ICE Futures U.S. in New York City, the exchange is the premiere world market for
the trading of coffee, sugand options. Three sugar futures contracts (world raw, world refined, and domestic raw)
are listed at ICE. In 1982launched the nation's first exchange
option on a futures contract when it introduced
options on world sugar futures
The Role of the Exchange Since all futures and options contracts are standardized (with delivery months and
locations, quantity and grade constant), only price is negotiable. These prices are determined by "open outcry"
trading on the exchange floor. The scene on the trading floor resembles an auction of sorts, with competing buyers and sellers shouting and
gesturing. While this might appear chaotic to the casual observer, the open outcry method assures that
each trade is openly and competitively executed. With open outcry, all market participants are afforded the opportunity to buy or sell at the best
available current price. All trading activity is closely monitored by the
exchange according to guidelines established by the CFTC. The exchange is committed to maintaining markets of the highest quality. To help fulfill this self-Employs advanced technological systems to perform a variety of surveillance and compliance
procedures.
onsTrading Sugar Opti
In 1982, the exchange introduced options on world (#11) sugar futures exchange -traded option on commodity futures. Because options strategies are numerous and
can be tailored to meet a wide array of risk profiles, time horizons anhedgers and investors have increasingly realized
their vast potential.
Page (34)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
Sugar Futures and Options Trading
Located at ICE Futures U.S. in New York City, the exchange is the premiere world market for
the trading of coffee, sugar and cocoa futures and options. Three sugar futures contracts (world raw, world refined, and domestic raw)
1982, the exchange launched the nation's first exchange-traded
option on a futures contract when it introduced
orld sugar futures.
The Role of the Exchange
Since all futures and options contracts are standardized (with delivery months and
locations, quantity and grade constant), only
These prices are determined by "open outcry"
he exchange floor. The scene on the trading floor resembles an auction of sorts, with competing buyers and sellers shouting and
While this might appear chaotic to the casual observer, the open outcry method assures that
and competitively executed.
With open outcry, all market participants are afforded the opportunity to buy or sell at the best
available current price.
All trading activity is closely monitored by the
exchange according to guidelines established by FTC. The exchange is committed to
maintaining markets of the highest quality.
-regulatory mandate, ICE advanced technological systems to
perform a variety of surveillance and compliance
ons
the exchange introduced options on sugar futures - the nation's first
traded option on commodity futures. Because options strategies are numerous and
can be tailored to meet a wide array of risk profiles, time horizons and cost considerations, hedgers and investors have increasingly realized
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
ISO World Sugar Market Review
In the third assessment of the ISO, world sugar
production is put at 161.527A significant production shortfall in India and contraction of production in the EU, on the one hand,
and a continuing expansion of sugar output in Brazil, on the other hand, are the three major supply features of 2008/09.
The combined effect of output reductions in the EU and India is expected to shave off a massive tonnes from world sugar supply, despite record high
growth in sugar output in Brazil. So far, a lowering in forecasted production in India projected in August to the current projection of mln tonnes) has been neatly matched by a practically
identical increase in Brazil 37.54 mln tones). Meanwhile, global consumption is forecasted to grow
at the rate of 2.19% to World production is no
world consumption as against Consequently, the statistical outlook for the market till the end of the season in September 2009market values.
The ISO puts world export availability for raw value, as against 46.25
Smaller output in importing countries and in India, in particular, is expected to trigger additio49.621 mln tonnes, up
A summary of the third assessment of the world sugar balance in 2008/09 is provided in the table below
Production
Consumption
Surplus / Deficit
Import demand
Export availability
End Stocks
Stocks/Consumption ratio in%
Source: ISO quarterly market outlook
Page (35)
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
ISO World Sugar Market Review
In the third assessment of the ISO, world sugar
161.527 mln tonnes. A significant production shortfall in India and a further contraction of production in the EU, on the one hand,
and a continuing expansion of sugar output in Brazil, on the other hand, are the three major supply features
The combined effect of output reductions in the EU and ted to shave off a massive 7.084 mln
tonnes from world sugar supply, despite record high
growth in sugar output in Brazil. So far, a lowering in forecasted production in India (from 23.9 mln tonnes projected in August to the current projection of 19.55
tonnes) has been neatly matched by a practically
identical increase in Brazil (from 33.22 mln tonnes to
Meanwhile, global consumption is forecasted to grow
to 165.801 mln tonnes, raw value.
World production is now expected to be 4.274 mln tonnes lower than
world consumption as against 3.626 mln tonnes projected in NovemberConsequently, the statistical outlook for the market till the end of the
2009 remains constructive and supportive to world
The ISO puts world export availability for 2008/09 at 49.60846.25 mln tonnes in the previous crop cycle
Smaller output in importing countries and in India, in particular, is expected to trigger additional import demand which is estimated to reach
up 3.673 mln tonnes.
A summary of the third assessment of the world sugar balance in is provided in the table below.
World Sugar Balance
2008/09 2007/08 Change
(mln tonne, raw value) in mln t
161.527 168.611 -7.084
165.801 162.241 3.560
-4.274 6.370 49.621 45.948 3.673
49.608 46.245 3.363
66.272 70.533 -4.261
Stocks/Consumption ratio 39.97 43.47
ISO quarterly market outlook, February 2009
as at
JanMarMayJulOctMarMayJulOctMar
AUD/USDUSD/BRLUSD/THB
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
mln tonnes lower than
mln tonnes projected in November. Consequently, the statistical outlook for the market till the end of the
remains constructive and supportive to world
49.608 mln tonnes, mln tonnes in the previous crop cycle.
Smaller output in importing countries and in India, in particular, is nal import demand which is estimated to reach
A summary of the third assessment of the world sugar balance in
Change
in mln t in %
7.084 -4.20
3.560 2.19
3.673 7.99
3.363 7.27
1 -6.04
as at : 20 November 2009
Jan-10 22.20 Mar-10 22.74 May-10 21.86 Jul-10 20.43 Oct-10 19.73 Mar-11 19.33 May-11 18.12 Jul-11 17.28 Oct-11 17.08 Mar-12 16.63
AUD/USD 0.919 USD/BRL 1.73 USD/THB 33.20
www.ecsei.com www.ecse
The Egyptian Center for Studies of Export & Import
This is summary Report and for
Contact us:
Our Email:
eg.com-info@ecsei
For Direct Contact: 0020
Thanks
The Egyptian Center for Studies of Export & Import
General Manager Medhat Saad Eldin
Legal Consultations
sei-eg.com Email: [email protected]
The Egyptian Center for Studies of Export & Import و ا�����اد ���� ا ��آ� ا ���ى �را��ت ا
About ECSEI Full Report
This is summary Report and for inquiry our Full Report you must
0020-123514312
The Egyptian Center for Studies of Export & Import
� و ا�����اد��� ا ��آ� ا ���ى �را��ت ا
Full Report you must