February 2022 Sugar Market News
The Agriculture and Food Authority – Sugar directorate produces a monthly newsletter that gives insight into how the sugar industry performs each month. The major focus is into the local sugar market, foreign trade and the world at large.
During the month of February 2022, total sugarcane crushed by the industry was 661,006 tonnes compared to 691,107 tonnes at a cane crushed in the previous month.
In February 2022, total sugar production was 64,191 tonnes, a 1% decrease from the previous month's total of 64,839 tonnes. Sugar production in January - February 2022 was 129,030 tonnes, up from 119,552 tonnes in the same period last year.
The ex-factory sugar price trade at a range of Kshs 5,100 - 6,000 per 50kg bag, giving an average of Kshs 5,560. The wholesale price was ranging Kshs 5,200 – 6,400 per 50kg bag and yielded to average price of Kshs 5,600 while 1kilogram retailed at Kshs 132.
Total sugar imports in February 2022 were 20,028 MT compared to 18,061 MT in the previous month, representing an 11 percent increase On the other hand, CIF value for both sugars averaged Kshs 66,886 /tonne.
According to the ISO published February Quarterly Market Outlook report, Global sugar deficit of 1.928 mln tonnes is projected.
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