EID Sugar Business
White Premium Trends - EU Impact and Refinery Closures
European Exports & The White Sugar Premium
White Premium Trends and Projections (US$/MT)
PARRYS
$/mt
250
EU
105
Re-entry
200
150
127
112
110
Closure of
re-export
refineries
108
98
95
A
85
85
100
83
'000s mt
EU Exports
-White Sugar Premium (continuation)
8,000
Refinery
7,000
Plan
developed
6,000
5,000
4,000
3,000
2,000
1,000
0
2000/01
2001/02
2002/03
2003/04
2004/05
2005/06
2006/07
2007/08
2008/09
2009/10
2010/11
2011/12
2012/13
2013/14
2014/15
2015/16
2016/17
2017/18
Source: ASR Group
150
Spread available
for next 5 years
=
= 40-45 US$/MT
80 82
85
86
83
2011-12
2012-13
2013-14
2014-15
90
85
81
2015-16
2016-17
2017-18
2018-19
Historical
Low
78
75
2019-20
2020-21
2021-22
2022-23
2023-24
2024-25
2009-10
2006-7
2007-8
2008-9
2010-11
✰ Due to entry of EU and lower White Premium refining capacity is getting rationalized, a trend that is expected to
continue. Many refineries in Israel, Chile, Bahrain, etc. have closed while some in Dubai, Yemen, Egypt are
operating at lower capacity
34
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