In response to industry requests, Platts, a leading global energy, petrochemicals, metals and agriculture information provider, this month increased the frequency of its sugar price, news, analysis and data offering to the markets of the European Union.
"This is an industry that faces exciting changes as its heads towards deregulation in 2017, and we're pleased to meet the need for an independent source of price references for sugar," said Tim Worledge, Platts associate editorial director, agriculture. "Our sugar price assessments, which have been published on a monthly basis since 2006, will now be published weekly. To accommodate that increased reporting schedule, we'll house the assessments with market commentary, analysis and data in a new weekly offering."
The new Platts Kingsman Weekly EU Sugar Report supplements Platts' existing daily, weekly and monthly agricultural information packages that include global sugar market data.
"The new weekly's key focus is continent-wide sugar market developments and we believe this will be increasingly important in the period immediately ahead," said Andrea Mayendia, Platts commercial director of agriculture. The 2017 implementation of the EU Common Agricultural Policy (CAP)-mandated liberalization of the EU sugar market will abolish country-by-country sugar quotas and price supports for sugar-producing commodities.
The new weekly price assessments are market-on-close, end-of-trading-week, physical market values for raw and white sugar as assessed by Platts at 4:30 pm. London each Friday. The published prices reflect bids, offers and transactions as determined between buyers and sellers in the open markets:
• Platts White Sugar Delivered Northwest Europe: (45 ICUMSA/EEC• number two quality) white sugar delivered inland to Germany, France, Belgium and the Netherlands;
• Platts White Sugar Delivered Mediterranean Europe: (45 ICUMSA/EEC number two quality) white sugar delivered to Italy and Spain;
• Platts White Sugar Containers CNF IPR-45i: (45 ICUMSA/EEC number two quality) white sugar as freight-derived netback for European delivery;
• Platts Raw Sugar CNF Antwerp: Raw sugar as Freight-derived netback for Antwerp delivery.
Expressed in U.S. dollars per metric ton and on a cost and freight (CNF) basis where noted, the spot market price assessments are underpinned by Platts' rigorous, structured methodology. In addition to the weekly price assessments, the Kingsman Weekly EU Sugar Report includes price data such as premiums and derivatives, as well as EU news and relevant market developments.
Other Platts services that also feature the new weekly EU-delivered sugar price references include the following: Kingsman Daily Sugar Report and Platts Market Data - Sugar.
Founded in 1990 and based in Lausanne, Kingsman, a sugar specialty unit, was acquired by Platts in 2012 and is part of the Platts agriculture group, which provides market news, price assessments and analysis to the sugar, ethanol and biodiesel markets.
For more information on Platts agriculture offerings, or a complimentary trial please contact support[.]platts.com.
*45 ICUMSA/EEC White Sugar: Industry standard white sugar as outlined by the International Commission for Uniform Methods of Sugar Analysis.
Founded in 1909, Platts (platts.com) is a leading global provider of energy, petrochemicals, metals and agriculture information and a premier source of benchmark prices for the physical and futures markets. Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries benefit from Platts' coverage of the biofuels, carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, shipping and sugar markets. A division of McGraw Hill Financial (NYSE: MHFI), Platts is based in London with more than 1000 employees in more than 15 offices worldwide.
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