Platts discontinues World Spots sugar prices Apr 1

S&P Global Platts has discontinued its World Spots sugar prices, and related assessments, with effect from April 1, 2020.

The World Spots were previously calculated daily to provide a value indication at 11:00 am London time for Brazil raw sugar on an FOB basis as well as on a CFR basis to the Black Sea, and for Brazil white sugar on an FOB basis. As a result, Platts has also discontinued the publication of the ICE Sugar No.11 Futures value at 11:00 am London time which was used in the calculation of the World Spots, and the ICE White Sugar Futures value at 11:00 am London time, with effect from April 1.

In addition, Platts has also discontinued its weekly Raw Sugar CNF Antwerp price, which was previously assessed at 4:30 pm London time every Friday. This price represented the value of raw Brazilian sugar delivered into Antwerp, and was calculated by adding a fixed cost to account for freight to the Raws C&F World Spots price.

The discontinuations reflect an evolution of the global sugar market, with Brazilian sugar no longer typically being shipped to Europe and the Black Sea. Typical destinations for raw sugar from Brazil now include the Middle East, North and West Africa, and East Asia.

Platts continues to publish price assessments for Brazil raw sugar and Brazil white sugar on an FOB basis at the 4:30 pm London close. Platts also continues to publish assessments of front-month ICE White Sugar Futures and front month ICE Sugar No.11 Futures at the 4:30 pm London close.

The discontinued assessments are:

Daily Assessments:

• Raws Fobs (SGAEE00)

• Raws C&F (SGBAA00)

• White 150s Fobs (SGBAB00)

• White Sugar Futures (London 5) 11:00 (SPBED00)

• Sugar No.11 Futures (New York 11) 11:00 (SPBEZ00)

Weekly Assessment:

• Raw Sugar CNF Antwerp (SGBCA00)

All of the daily assessments were previously published on Platts Agriculture Alert page 510, and in the Platts price database under the codes above. The three World Spots daily sugar prices were also published in the Kingsman Daily Sugar Market Report.

The weekly assessment was previously published on Platts Agriculture Alert page 1432, in the Kingsman EU Sugar Market Report, and in the Platts price database under the code above.

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