29-30 Sep, 2009 - Singapore, SINGAPORE
Goodwood Park Hotel Singapore
Goodwood Park Hotel Singapore
Jess Halliday, editor of FoodNavigator.com wrote an excellent editorial on the politics and policies of key stakeholders in the Global sugar marketplace.
She drew a comparison between the US, India, and the EU highlighting good (market-friendly) and bad (protectionist) policies. In India for example, limits on storing sugar means there are very little reserves available to meet deficit. In the US, tariffs on imported sugar mean higher prices for F&B manufacturers. In the EU however, sugar reforms introduced in 2006 have led to a 30% decrease in sugar production, and the EU no longer imposes tariffs on imported sugar from the ACP (African, Caribbean & Pacific) countries, and other less developed countries.
Are policymakers making a bad situation worse?
While the answer is not a straightforward ‘yes or no’, the 7th World Sugar Trade conference will offer clarity into the policies, economics, consumption patterns and other key market determinants of leading sugar markets around the world. Held in Singapore on 29-30 September 2009, the conference panellists will provide up-to-the minute market updates and analysis of the current situation in:
As thousands of farmers in India’s “Sugar Bowl” shifted from planting Sugar to other crops, the price of refined sugar on international markets jumped 80 percent, to hit a 28-year high of 21.55 cents a pound.
In the world’s largest sugar consuming nation, Sugar is a political commodity, and in India policy makers have to walk the line between helping consumers, and farmers, many of whom live below the poverty line.
According to industry insiders, the bulk of India’s sugar problems can be traced back to 2006, when the government banned exports to bring down prices. The ban was very successful, and as prices began to fall, it became evident that farmers had planted too much sugarcane for domestic consumption alone.
The New York Times reported that in 2007-2008, sugar farmers burned their sugar cane in the fields, as there was no interest from sugar millers to purchase their crop. Farmers also started switching to other crops. Despite government efforts to subsidise exports, the scene was set for the current shortage.
The bottom line is that India’s sugar industry regulations are complex and extend beyond international trade. Policies dictate how much sugar each mill can sell each month, set a minimum price paid to farmers, and require factories to sell 10% of their output at below market prices for distribution to the poor. Policy makers have also banned futures trading in the commodity.
While industry officials are pushing to ease government control over sugar, politicians are hesitant to back a policy that could ‘drive up food prices’.
The recent rise in sugar prices have lured some farmers back to sugar cane, but according to recent reports published in Bloomberg, India will not produce enough to satisfy domestic demand until 2010 or later.
At the upcoming 7th World SugarTrade summit, which convenes in Singapore on 29-30 September 2009, a leading Indian sugar industry official shares his views on policy initiatives and market drivers for Sugar in India.
Yatin Wadhwana, MD of French multinational trading house, Sucden India, will offer perspectives on India’s sugar production outlook. Mr. Wadhwana, one of India’s most respected and recognisable sugar industry officials, has been involved in India’s sugar industry as a Miller and a Trader for over 22 years. He has served as a voice for India’s sugar industry, stepping in to offer views to leading news agencies including Reuters, Bloomberg and Forbes.
At the 7th World SugarTrade conference, Mr. Wadhwana will provide insights on the amount of sugar stocks India has left, how much the country will import for 2009/2010, and when the deficit should end.
Mr. Wadhwana will also share his views at a round-table on sugar trading that will put today’s markets in perspective, and offer a vision into the future of global sugar trade.
Those who wish to find out more about the Sugar Industry in India, and its impact on global sugar trade flows, are encouraged to attend 7th World SugarTrade to find out more.
>>REGISTER NOW<< or email Ms. Jaime at jaime@cmtsp.com.sg for more information.
As plans for the 7th World SugarTrade conference in Singapore pick up steam, Sugar prices touched new peaks in June on signs that a production deficit could extend into its second year.
The conference, which convenes in Singapore on September 29-30, 2009 will explore Sugar trends, market fundamentals and lenders appetite for supporting growth of sugar sector.
Bloomberg reported that Raw-sugar futures for October delivery rose to 17 cents a pound on the ICE Futures in New York in June 2009, the highest for a most-active contract since July 2006!
This comes amidst the announcement from the Australian government on their revised sugar output, which has been lowered 3.1 percent. There are also concerns that the lull in the 2009 Indian monsoon could influence upcoming production.
Even with the global economic slowdown, Sugar futures gained this year over a drop in output, and India’s transition into a net importer for the first time in three years. The country is the world’s largest consumer of sugar and biggest producer after Brazil. With the weaker dollar, the appeal for trading commodities will continue to strengthen sugar’s position.
With analysts predicting that, the global sugar production deficit will make an impact in the fourth quarter, the 7th World SugarTrade conference convenes at the RIGHT TIME for the sugar industry to get on-the-minute updates on September 29-30, 2009.
Investors are increasing their stake in sugar, and hedge fund money already coming into sugar futures. The resultant upward momentum could spin off more growth for the sector!
The world’s leading financiers, traders, sugar producers, millers, refiners, key officials of government trading corporations and shipping executives are already confirming their participation at this global conference on September 29-30, 2009 to meet, network and alter the course of the sugar industry in the months ahead.
Those who wish to participate in 7th World SugarTrade can >>CLICK HERE<< or email jaime@cmtsp.com.sg to Register.
Source: Globalisation101.org
The 7th Global SugarTrade summit will be held on 29-30 September 2009 in Singapore.
World’s leading financiers, traders, sugar producers, millers, refiners, key officials of government trading corporations and shipping executives will convene at this global conference dedicated to exploring the evolving dynamics of the global sugar markets.
CMT’s first Sugar Trade conference was held in Dubai 7 years ago. Since then we’ve brought the event across to Mexico City and Miami, for regional overview on current trends, local issues and the rising prominence of sugar-cane ethanol.
This year, the conference comes to Singapore, Asia-Pacific’s commodity trading hub. 7th Global SugarTrade aims to tackle the industry’s most pressing development, the current liquidity crunch.
According to the International Sugar Organisation, Sugar prices, which just reached three year highs, will probably get further support because the 2009/10 global sugar market will remain in deficit. With global sugar demand increasing annually, securing funding and increasing production are central to the industry’s sustained growth.
Some of the key current issues to be covered at 7th Global SugarTrade :
On that note, we encourage you to take advantage of lucrative opportunity to increase your organisation’s visibility to the industry’s key players and investors. Do drop an email to jaime@cmtsp.com.sg for details on possible media partnership arrangements and nisha@cmtsp.com.sg on event sponsorship packages at our 7th Global SugarTrade conference.
