European sugar exports are down 47% from a year ago with only 371 kt of sugar being exported by the end of December 2019.
This anticipated slowdown (which largely results from a drop in European sugar output this season (currently estimated below 17.4 Mt) notably affects France, Belgium and Poland with export activities being respectively down 62%, 44% and 43% from a year ago.
In the meantime :
- Israel remains the most preferred destination for European sugar followed by Egypt and Norway,
- the European FOB price for exports averaged 411 EUR/t in Dec 19 : up 28 EUR/t from last month.
Overall, we expect EU's 2019-20 sugar exports to total 1.1 Mttq at best.
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