New Year sugar price optimism

The New Year has started with cautious optimism about an upswing in the world sugar price and grower organisation CANEGROWERS is urging its members to keep their eye on the ball through a unique and independent information service.

“We’ve seen the prompt price for sugar climb to around $435 A$/tonne over the past few weeks amid expectations the market is shifting into a more neutral phase,” CANEGROWERS CEO Dan Galligan said.

“With forward prices also moving to some of their highest levels for a year, it’s important growers keep themselves up to date on what’s happening and, very importantly, to be aware of the various pricing options.

“That’s why we launched the CANEGROWERS Marketing Information Service last year with a series of education workshops through sugarcane regions for members and are continuing to provide monthly market updates online.”

Following the significant victory in securing choice for Queensland sugarcane growers, competition has developed among those providing marketing services to growers.

“It was recognised there was a real need for independent information and education so growers could reap the benefits of this competition and make the best decisions they can for their personal circumstances,” Mr Galligan said.

At any time CANEGROWERS members can log in for monthly updates at http://www.canegrowers.com.au/... and workshops will continue through 2020.

“While we are feeling some optimism about the relatively better prices, serious concerns remain about the dry conditions across many growing areas which are inhibiting the development of the 2020 crop,” Mr Galligan said.

“We are all hoping the wet season develops and delivers this year to give plant growth a boost before harvest plans are finalised in May.”