The Agriculture and Food Authority – Sugar Directorate's monthly newsletter provides comprehensive insights into the performance of the sugar industry. The April 2024 edition includes a detailed comparative analysis for January to April of both 2023 and 2024, covering various aspects of the local and global sugar markets. Here's a detailed summary:
1. Local Sugar Market
Ex-Factory Sugar Prices
- In April 2024, the weighted ex-factory sugar price slightly decreased by 1% to Ksh 5,739 per 50 kg bag from Ksh 5,784 per 50 kg bag in March 2024. This marks a significant decrease from Ksh 6,708 per 50 kg bag in February 2024.
Wholesale Sugar Prices
- Wholesale sugar prices increased to an average of Ksh 6,231 per 50 kg bag in April 2024, a 6% rise from Ksh 5,903 per 50 kg bag in March 2024.
Retail Sugar Prices
- Retail sugar prices in April 2024 averaged Ksh 165 per kilogram, a slight drop from Ksh 169 per kilogram in March 2024, and a more substantial decrease from Ksh 185 per kilogram in February 2024.
2. Foreign Trade
Sugar Imports
- Sugar imports in April 2024 amounted to 35,763 metric tons, representing an 8% decrease from the 39,031 metric tons imported in March 2024.
CIF Value
- In April 2024, the CIF (Cost, Insurance, and Freight) Mombasa landed values for imported White Refined Sugar averaged Ksh 87,524 per tonne, whereas the value for Mill White/Brown sugar was slightly lower at Ksh 86,437 per tonne.
3. World Sugar Market and Global Sugar Outlook
- The newsletter includes insights and projections on the global sugar market, considering various factors that influence international prices and trade dynamics.
Key Performance Metrics for April 2024
- Sugarcane Milled: Total sugarcane milled by all factories decreased to 702,411 metric tons from 834,883 metric tons in March.
- Sugar Production: Sugar production also dropped to 59,346 metric tons from 70,181 metric tons in March.
- Cane to Sugar Ratio (TC/TS): Remained consistent at 11.9 in March and April 2024.
- Bagged Sugar: Total sugar produced (bagged) in April was 59,263 metric tons, a 15% decrease from 69,657 metric tons in March.
- Sugar Sales: Increased to 72,711 metric tons in April from 66,415 metric tons in March.
- Closing Stock: Total closing stocks of sugar at the end of April were 20,522 metric tons, down from 33,964 metric tons in March.
- Molasses Production: Decreased by 11% to 31,377 metric tons in April from 35,391 metric tons in March.
- Molasses Prices: Average price dropped drastically by 38% to Ksh 5,556 per tonne from Ksh 8,903 per tonne in March, and Ksh 20,292 per tonne in February. In April, molasses prices ranged between Ksh 3,500 and 16,544 per tonne.
- Sugar Cane Price: The average price for sugar cane was Ksh 5,100 per tonne in April, down from Ksh 5,900 per tonne in March.
This summary captures the significant trends and changes in the local sugar market, foreign trade, and global market outlook as reported in the April 2024 newsletter. The data indicates fluctuations in production, pricing, and imports, which are crucial for stakeholders in the sugar industry. To download this and previous summaries from the App, go to Resources -> Monthly Newsletters.