EU Sugar Market – Production and Consumption 2013/14
In the EU we consume approximately 16 million tonnes of sugar per year and we currently produce a similar amount from Sugar beet. Sugar beet quotas however limit the amount of annual production that can be used to meet consumption to approximately 13.5 million tonnes per year allowing at least 2.5 million tonnes of cane sugar imports from African, Caribbean and Pacific Countries (ACP).
In the following chart you can see for each of the 28 EU members quota and production estimates for the period October 2013 to September 2014.
| EU-28 | Sugar Quota 2013-14 | Production Estimate 2013-14 | Carry From 2012-13 | Carry To 2014-15 | Available Production | Out Of Quota Production | Consumption Estimates |
| Austria | 351,027 | 482,328 | _ | _ | 351,027 | 131,301 | 280,000 |
| Belgium/Lux | 676,235 | 781,813 | 35,648 | _ | 676,235 | 141,226 | 485,000 |
| Bulgaria | _ | _ | _ | _ | _ | _ | 250,000 |
| Croatia | 192,877 | 192,880 | _ | 3 | 192,877 | _ | 180,000 |
| Cyprus | _ | _ | _ | _ | _ | _ | 15,000 |
| Czech Republic | 372,459 | 539,166 | 2,649 | _ | 372,459 | 169,356 | 360,000 |
| Denmark | 372,383 | 461,997 | 9,000 | _ | 372,383 | 98,614 | 240,000 |
| Estonia | _ | _ | _ | _ | _ | _ | 45,000 |
| Finland | 80,999 | 116,458 | _ | _ | 80,999 | 35,459 | 170,000 |
| France | 3,004,811 | 4,339,385 | 18,895 | _ | 3,004,811 | 1,353,469 | 2,000,000 |
| France (DOM) | 432,220 | 195,580 | _ | _ | 195,580 | _ | _ |
| Germany | 2,898,256 | 3,428,298 | 401,973 | _ | 2,898,256 | 932,015 | 2,600,000 |
| Greece | 158,702 | 160,199 | _ | 1,497 | 158,702 | _ | 270,000 |
| Hungary | 105,420 | 115,649 | _ | _ | 105,420 | 10,229 | 370,000 |
| Ireland | _ | _ | _ | _ | _ | _ | 135,000 |
| Italy | 508,379 | 501,200 | 64,616 | 57,438 | 508,379 | _ | 1,500,000 |
| Latvia | _ | _ | _ | _ | _ | _ | 50,000 |
| Lithuania | 90,252 | 172,153 | 10 | _ | 90,252 | 81,911 | 120,000 |
| Malta | _ | _ | _ | _ | _ | _ | 30,000 |
| Netherlands | 804,888 | 947,903 | _ | _ | 804,888 | 143,015 | 715,000 |
| Poland | 1,405,608 | 1,713,105 | 48,051 | _ | 1,405,608 | 355,548 | 1,560,000 |
| Portugal | _ | _ | _ | _ | _ | _ | 270,000 |
| Portugal (Acores) | 9,953 | 1,800 | _ | _ | 1,800 | _ | _ |
| Romania | 104,689 | 245,936 | 1,459 | _ | 104,689 | 142,706 | 500,000 |
| Slovakia | 112,320 | 218,495 | _ | _ | 112,320 | 106,175 | 190,000 |
| Slovenia | _ | _ | _ | _ | _ | _ | 80,000 |
| Spain | 498,480 | 455,500 | 34,530 | _ | 488,648 | 1,381 | 1,200,000 |
| Sweden | 293,186 | 378,000 | 14,000 | _ | 293,186 | 98,814 | 385,000 |
| United Kingdom | 1,056,474 | 1,323,519 | 43,097 | _ | 1,056,474 | 310,142 | 2,000,000 |
| Total EU-28 | 13,529,618 | 16,771,364 | 673,928 | 58,938 | 13,274,993 | 4,111,361 | 16,000,000 |
EU Sugar Market – Imports and Exports 2013/14
While we know that at least 2.5 million tonnes of cane sugar needs to be imported into the EU, in reality the figure is somewhat higher this year. Also given much of the out of quota beet is exported to the world market, this year the cane import and beet export estimates are similar.
| EU-28 |
Imports – EU Calendar 2013 |
Exports – EU Calendar 2013 |
| Austria | 166,221 | 97,000 |
| Belgium/Lux | 560,122 | 288,000 |
| Bulgaria | 100,315 | 23,000 |
| Croatia | 19,402 | 385,000 |
| Cyprus | 13,250 | |
| Czech Republic | 110,093 | 218,900 |
| Denmark | 66,686 | 123,000 |
| Estonia | 16,100 | |
| Finland | 16,393 | 30,000 |
| France | 259,255 | 1,494,300 |
| France (DOM) | ||
| Germany | 525,819 | 737,000 |
| Greece | 212,515 | 56,000 |
| Hungary | 120,066 | 192,000 |
| Ireland | 146,360 | 7,800 |
| Italy | 887,221 | 25,000 |
| Latvia | 74,429 | 37,000 |
| Lithuania | 36,898 | 76,800 |
| Malta | 10,573 | |
| Netherlands | 116,085 | 280,000 |
| Portugal | 64,267 | 365,000 |
| Portugal (Acores) | ||
| Romania | 49,300 | 59,900 |
| Slovakia | 163,021 | 229,500 |
| Slovenia | 50,975 | 55,900 |
| Spain | 763,285 | 67,250 |
| Sweden | 36,294 | 33,400 |
| United Kingdom | 440,199 | 142,400 |
| Total EU-28 | 5,044,756 | 5,238,650 |
| Beet Cost Estimates 2014/15 | Beet |
| € Per Tonne | |
| Minimum Beet Price (UK Basis) | € 26.29 |
| Transport & Handling (Beet to Factory UK Basis) | € 28.22 |
| White Sugar Price (Basis 16.5% Yield) | € 202.23 |
| Molasses Allowance | € 22.50 |
| Producer Margin | € 155.90 |
| Estimated Cost Of Production | € 363.85 |
| Reference Price | € 404.40 |
| Difference | 40.55 |
| Cane Cost Estimates 2014/15 | Cane |
| € Per Tonne | |
| Guaranteed ACP raw price (CIF) | € 335.20 |
| Polarity Premium (MAX 96 ICUMSA) | € 13.48 |
| Loss On refining (Basis 97.5% Yeild) | € 12.33 |
| Cost Of Production | € 80.00 |
| Estimated Cost Of Production | € 441.01 |
| Reference Price | € 404.40 |
| Difference | – 36.61 |
USCR unchanged Monday 30th June 2014
Updated 10th July 2014
The European Central Bank have confirmed the official rate for the day as 0.79505 Euro giving a gap of 1.101% and forcing a change (£3.58) to the Reference Price for White Sugar in the UK from Monday 14th July 2014.
The USCR base will now be £321.52.