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The Egyptian Center for Studies of Export & Import
Our Summary Report's Notes:

Abbreviations and Explanatory Notes

Introduction:

• Sugar Definition
• Sugar Cane Definition
• Sugar Beet Definition
• Ethanol from Sugar Definition
• Factors impacting sugar to ethanol viability

The EU converts refined sugar to ethanol Market

• Production and consumption
• Production capacity
• Use of raw material

Brazilian Sugar

• Producing Brazilian Sugar
• Types of Brazilian Sugar
• Brazilian Ethanol Production
• Brazilian Sugar and Ethanol Indus
• U.S. and Brazilian Ethanol Comparison

International Sugar Organization (ISO)

The Global Alliance for Sugar Trade Reform and Liberalization

World Food Price Inflation in

Sugar(World Production

• PRODUCTION
• World production and consumption of sugar
• Industry structure and development

Sugar Futures and Options Trading

• The Role of the Exchange
• Trading Sugar Options

ISO World Sugar Market Review

The Global Sugar Industry


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Our Summary Report's Notes:
Abbreviations and Explanatory Notes
Sugar Cane Definition
Sugar Beet Definition
Ethanol from Sugar Definition
Factors impacting sugar to ethanol viability
EU converts refined sugar to ethanol Market
Production and consumption
Production capacity
Use of raw material
Producing Brazilian Sugar
Types of Brazilian Sugar for Export
Brazilian Ethanol Production
Brazilian Sugar and Ethanol Industry
U.S. and Brazilian Ethanol Comparison
International Sugar Organization (ISO)
The Global Alliance for Sugar Trade Reform and Liberalization
World Food Price Inflation in 2007/2008 (FAO Report Review)
Sugar(World Production - Supply and Distribution)
World production and consumption of sugar
Industry structure and development
Sugar Futures and Options Trading
The Role of the Exchange
Trading Sugar Options
ISO World Sugar Market Review

The Global Sugar Industry 2009/2010
"The End of Cheap Food"
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The Global Alliance for Sugar Trade Reform and Liberalization
Review)
2009/2010
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Explanatory Notes Abbreviations and


ACP

African, Caribbean and Pacific States

Affination


Production of a magma by mixing sugar with syrup and then centrifuging the
magma with or without washing


Affined sugar


Sugar purified by affination


After product sugar

Sugar of the final crystallization stage (C sugar)

Alkalinity

In the product streams of a beet sugar factory, the result of a titration with
standardized acid solution to a phenolphthalein endpoint or equivalent pH,
expressed as g CaO per 100

Alkalinity, effective

The solid residue left after incineration in the presence of oxygen (crude ash, carbonate ash).
In analysis of sugar products, sulfuric acid is added to the sample, and this residue as
sulfated ash heated to 800 °C is taken to be a measure o
Sometimes determined indirectly by measure of the electrical conductivity of solutions of
the products.

Alliance for Sugar Trade Reform and Liberalization

The Global Alliance for Sugar Trade Reform and Liberalizations was es
during in November 1999
Colombia, India, Guatemala, South Africa and Thailand) agreed and signed a
communiqué calling for WTO agreement on agriculture that includes positive,
progressive and meaning
sugar is included as an important element of the agricultural trade agenda.

Availability of processing plant capacity, and the weather

Both influence the duration of harvesting and processing
harvested beet until processed, but a frost
unprocessable.
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Explanatory Notes
African, Caribbean and Pacific States
Production of a magma by mixing sugar with syrup and then centrifuging the
magma with or without washing
Sugar purified by affination
gar of the final crystallization stage (C sugar)
In the product streams of a beet sugar factory, the result of a titration with
standardized acid solution to a phenolphthalein endpoint or equivalent pH,
100 ml
he solid residue left after incineration in the presence of oxygen (crude ash, carbonate ash).
In analysis of sugar products, sulfuric acid is added to the sample, and this residue as
sulfated ash heated to 800 °C is taken to be a measure of the inorganic constituents.
Sometimes determined indirectly by measure of the electrical conductivity of solutions of
Alliance for Sugar Trade Reform and Liberalization
The Global Alliance for Sugar Trade Reform and Liberalizations was es
1999 when members (Australia, Brazil, Canada
Colombia, India, Guatemala, South Africa and Thailand) agreed and signed a
communiqué calling for WTO agreement on agriculture that includes positive,
progressive and meaningful reform of the world sugar market by ensuring that
sugar is included as an important element of the agricultural trade agenda.
Availability of processing plant capacity, and the weather
Both influence the duration of harvesting and processing - the industry can lay up
harvested beet until processed, but a frost-damaged beet becomes effectively
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Production of a magma by mixing sugar with syrup and then centrifuging the

In the product streams of a beet sugar factory, the result of a titration with
standardized acid solution to a phenolphthalein endpoint or equivalent pH,
he solid residue left after incineration in the presence of oxygen (crude ash, carbonate ash).
In analysis of sugar products, sulfuric acid is added to the sample, and this residue as
f the inorganic constituents.
Sometimes determined indirectly by measure of the electrical conductivity of solutions of
The Global Alliance for Sugar Trade Reform and Liberalizations was established
Canada, Chile,
Colombia, India, Guatemala, South Africa and Thailand) agreed and signed a
communiqué calling for WTO agreement on agriculture that includes positive,
ful reform of the world sugar market by ensuring that
sugar is included as an important element of the agricultural trade agenda.
dustry can lay up
damaged beet becomes effectively
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Bagasse

The residue obtained after crushing cane in a mill is known as bagasse.
Depending on the number of the mill it is referred to as firs
mill bagasse, etc. After a diffuser the residue is called diffuser bagasse. The final
residue from a milling train or from the dewatering mills of a
diffusion plant is called final bagasse or simply, bagasse.

Bagasse Extract

The liquid fraction decanted from the bagasse after blending with water in the
colddigester.

Bear Market:

A market in which prices are declining


Beet

Sugar beet root, botanically the thick main root with
stored.

Beet brei

Beet sample prepared for analysis in the form of fine particles

Beet clamp

Stack of stored beet.

Beet flume

Concrete-lined ditch or metal trough

Beet knife

Rectangular piece of steel designed to slice


Beet pile

Store of beet in suitably prepared areas of the factory yard

Beet pump

Special centrifugal pump used to lift beet and water

Beet rasp, beet saw

Devices to obtain beet brei from beet samples

Beet sampler

Scooping device to collect beet samples
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The residue obtained after crushing cane in a mill is known as bagasse.
Depending on the number of the mill it is referred to as first mill bagasse, second
mill bagasse, etc. After a diffuser the residue is called diffuser bagasse. The final
residue from a milling train or from the dewatering mills of a
diffusion plant is called final bagasse or simply, bagasse.
liquid fraction decanted from the bagasse after blending with water in the
A market in which prices are declining.
Sugar beet root, botanically the thick main root with hypocotyls in which sugar is
Beet sample prepared for analysis in the form of fine particles.
lined ditch or metal trough designed for the hydraulic transport of beet
Rectangular piece of steel designed to slice beet into cossettes.
Store of beet in suitably prepared areas of the factory yard.
Special centrifugal pump used to lift beet and water.
Devices to obtain beet brei from beet samples.
evice to collect beet samples.
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The residue obtained after crushing cane in a mill is known as bagasse.
t mill bagasse, second
mill bagasse, etc. After a diffuser the residue is called diffuser bagasse. The final
liquid fraction decanted from the bagasse after blending with water in the
in which sugar is
the hydraulic transport of beet.
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Bid

A contractually binding offer to buy sugar at a certain price within a certain time
limit that can be given either in writing or orally
(Sometimes referred to as a

Blended sugar (sugar dextrose)

In some locales, dextrose, a corn
or beet sugar to create a white granulated blend that may be less expensive than
traditional sugar.
Dextrose is about 70% as sweet as sugar and is more hygroscopic
attracting). Because of these characteristics, blends may not perform exactly as
sugar in certain recipes.

Brown sugar

Brown sugar consists of sugar crystals contained in molasses syrup with natural
flavor and color components.
Many sugar refiners produce brow
containing these components until brown sugar crystals form.

Brix

Refractometer brix the term used when a refractometer equipped with a scale
based on the relationship between refractive indices at
by mass of total soluble solids of a pure aqueous sucrose solution, is used instead
of a hydrometer to test the solids concentration of a sucrose containing solution.

Brix-Free Water

The water associated with the fibre in cane and baga
sorpfionwater behaves in a manner similar to water of hydration and it is not
available for dissolving sucrose. It is driven off at elevated temperatures. The
amount of brix-free water is assumed to be

Candy crystals

Large sugar crystals produced by a special crystallization process

Carryover

The surplus stocks of a commodity from a previous season that are used in the
current season.

Current Crop (CC)

Sugar to have been produced since the star
particular origin.

COMMISSION REGULATION

Commission regulation (EC
obligations for cane sugar to be imported under the ACP Protocol and the
Agreement with India for the


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A contractually binding offer to buy sugar at a certain price within a certain time
limit that can be given either in writing or orally.
Sometimes referred to as a “firm bid”.
Blended sugar (sugar dextrose)
ome locales, dextrose, a corn-derived sweetener, is added to granulated cane
or beet sugar to create a white granulated blend that may be less expensive than
as sweet as sugar and is more hygroscopic (
ing). Because of these characteristics, blends may not perform exactly as

Brown sugar consists of sugar crystals contained in molasses syrup with natural
flavor and color components.
Many sugar refiners produce brown sugar by preparing and boiling special
containing these components until brown sugar crystals form.
term used when a refractometer equipped with a scale
on the relationship between refractive indices at 20°C and the percentage
by mass of total soluble solids of a pure aqueous sucrose solution, is used instead
of a hydrometer to test the solids concentration of a sucrose containing solution.
The water associated with the fibre in cane and bagasse. In some respects this
sorpfionwater behaves in a manner similar to water of hydration and it is not
available for dissolving sucrose. It is driven off at elevated temperatures. The
free water is assumed to be 25% on dry fibre.
Large sugar crystals produced by a special crystallization process (19
The surplus stocks of a commodity from a previous season that are used in the
Sugar to have been produced since the start of the current crop year for that
OMMISSION REGULATION (EC) No 77/2008
EC) No 77/2008 of 28 January 2008 setting delivery
obligations for cane sugar to be imported under the ACP Protocol and the
h India for the 2007/2008 delivery period.
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A contractually binding offer to buy sugar at a certain price within a certain time
derived sweetener, is added to granulated cane
or beet sugar to create a white granulated blend that may be less expensive than
(water
ing). Because of these characteristics, blends may not perform exactly as
Brown sugar consists of sugar crystals contained in molasses syrup with natural
special syrup
term used when a refractometer equipped with a scale,
d the percentage
by mass of total soluble solids of a pure aqueous sucrose solution, is used instead
of a hydrometer to test the solids concentration of a sucrose containing solution.
sse. In some respects this
sorpfionwater behaves in a manner similar to water of hydration and it is not
available for dissolving sucrose. It is driven off at elevated temperatures. The
19. Mai).
The surplus stocks of a commodity from a previous season that are used in the
t of the current crop year for that
setting delivery
obligations for cane sugar to be imported under the ACP Protocol and the
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COMMISSION REGULATION

Commission regulation (EC
obligations for cane sugar to be imported under the ACP Protocol and the
Agreement with India for the
beginning on 1 July 2009


Convert Metric Tons / Tons


To convert this To this
short tons metric tons
short tons pounds
kilograms pounds
Pounds kilograms
Pounds troy pounds
metric tons pounds
metric tons short tons

Convert Acres / Hectares

1 Hectare = 2.47 Acres
1 Acre = 0.40 Hectares

To convert this
pounds per acre
short tons per acre
kilograms per hectare
kilograms per hectare
tons per hectare
tons per hectare

Crystal content

Proportion by mass of crystals in the magma

Crystallization in concentrated

Crystallization or granulation is natural conversion from liquid state into solid
state due to cooling of supersaturated liquid.
This is NOT deterioration.

CSR Sugar

As Australia’s largest sugar producer, CSR has seven mills located in some of
Australia’s most productive sugarcane regions.
venture interests in sugar refining in Australia and New Zealand and is a maj
Australian ethanol producer.


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COMMISSION REGULATION (EC) No 505/2009
EC) No 505/2009 of 15 June 2009 adjusting the delivery
obligations for cane sugar to be imported under the ACP Protocol and the
ndia for the 2008/2009 delivery period and the delivery period
2009.
Convert Metric Tons / Tons
To this Multiply by:
metric tons .9072
pounds 2,000
pounds 2.2046
grams 0.4536
troy pounds 1.2153
pounds 2,204.6
short tons 1.1023
Convert Acres / Hectares
Acres.
Hectares.
To this Multiply by:
kilograms per hectare 1.14
kilograms per hectare 2.25
metric tons per hectare .001
pounds per acre .88
short tons per acre .44
kilograms per hectare 1,000
Proportion by mass of crystals in the magma.
Crystallization in concentrated / supersaturated sugar syrups
Crystallization or granulation is natural conversion from liquid state into solid
supersaturated liquid.
terioration.
As Australia’s largest sugar producer, CSR has seven mills located in some of
Australia’s most productive sugarcane regions. CSR also owns 75%
venture interests in sugar refining in Australia and New Zealand and is a maj
Australian ethanol producer.
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adjusting the delivery
obligations for cane sugar to be imported under the ACP Protocol and the
delivery period and the delivery period

/ supersaturated sugar syrups
Crystallization or granulation is natural conversion from liquid state into solid
As Australia’s largest sugar producer, CSR has seven mills located in some of
75% of joint
venture interests in sugar refining in Australia and New Zealand and is a major
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DAC Extract

The liquid fraction decanted from the cane after blending with water in the
colddigester.

DAC Factors

Brix Factor

The percentage ratio of the total brix in mixed juice, final bagasseand where
applicable, diffuser press water mud, to total brix in cane as determined by direct
analysis.

Pol Factor

The percentage ratio of the total pol in mixed juice, final bagasseand where
applicable, diffuser press water mud, to total pol in cane as determined by d
analysis.

Fibre

Fiber is the cane plant’s vegetable skeleton in which juice is stored and through
which plant food, dissolved in water, is distributed throughout the plant. In the
milling process, the fiber cells are ruptured, thus freeing the ju
content of sugar cane varies according to variety
16%. Medium and consistent fiber content is desirable in commercial varieties

DAC fibre

Fibre % cane derived from direct cane analysis and applying the formula
Fibre % cane = (100-M-3
in which
M= moisture % cane
b= brix % extract

Demurrage

An agreed amount payable to
the laytime, for which the owner is not responsible.

Despatch

An agreed amount payable by the owner if the vessel completes loading
discharging before the laytime has expired

Despatch On All Time Saved (ATS )

Despatch money shall be payable by the owner
discharging to the expiry of
laytime.

Discounts

Negative price differential between physical sugar and its corresponding futures
month.

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The liquid fraction decanted from the cane after blending with water in the
The percentage ratio of the total brix in mixed juice, final bagasseand where
ble, diffuser press water mud, to total brix in cane as determined by direct
The percentage ratio of the total pol in mixed juice, final bagasseand where
applicable, diffuser press water mud, to total pol in cane as determined by d
Fiber is the cane plant’s vegetable skeleton in which juice is stored and through
which plant food, dissolved in water, is distributed throughout the plant. In the
milling process, the fiber cells are ruptured, thus freeing the juice. The fiber
content of sugar cane varies according to variety. The normal range is
Medium and consistent fiber content is desirable in commercial varieties
Fibre % cane derived from direct cane analysis and applying the formula
3b)/(1-0.0125b)
An agreed amount payable to the owner in respect of delay to the vessel beyond
for which the owner is not responsible.
amount payable by the owner if the vessel completes loading
before the laytime has expired.
Despatch On All Time Saved (ATS )
Despatch money shall be payable by the owner from the completion of loading or
discharging to the expiry of the laytime including periods exempted from the
Negative price differential between physical sugar and its corresponding futures
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The liquid fraction decanted from the cane after blending with water in the
The percentage ratio of the total brix in mixed juice, final bagasseand where
ble, diffuser press water mud, to total brix in cane as determined by direct
The percentage ratio of the total pol in mixed juice, final bagasseand where
applicable, diffuser press water mud, to total pol in cane as determined by direct
Fiber is the cane plant’s vegetable skeleton in which juice is stored and through
which plant food, dissolved in water, is distributed throughout the plant. In the
ice. The fiber
The normal range is 10% to
Medium and consistent fiber content is desirable in commercial varieties.
Fibre % cane derived from direct cane analysis and applying the formula
the owner in respect of delay to the vessel beyond
amount payable by the owner if the vessel completes loading or
completion of loading or
the laytime including periods exempted from the
Negative price differential between physical sugar and its corresponding futures
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Discretionary Account

An account in which the customer gives the broker or another
authority to buy and sell commodities on his behalf.


Dried sugar beet cossettes

Commercial term for dried (including pressed) cossettes from which no sugar has
been extracted.

EBA

Everything But Arms (initiative).
Initiative designed in favour o

Ethanol

An alcohol (C2H5OH), used for a variety of purposes


Equity

The total cash value of an
would be incurred if the existing futures positions were liquidated at th
settlement price.

Exercise

Taking advantage of the right to buy or sell the underlying futures contract at the
agreed upon strike price.

Ex-pit Transaction

A legal trade executed outside the exchange trading ring.
Used normally to transfer

EU "quota" and subsidized

The EU subsidies and a high import tariff make it difficult for other countries to
export sugar to the EU states, or to compete with the Europeans on world
markets.

Extraction losses

Quantity of sugar entered but not contained in the raw juice as a percentage of
the beet or cane mass.


False grain

Undesirable small crystals

Fanged beet

Beet with multiple tap roots

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An account in which the customer gives the broker or another party tra
authority to buy and sell commodities on his behalf.
Dried sugar beet cossettes
Commercial term for dried (including pressed) cossettes from which no sugar has
Everything But Arms (initiative).
Initiative designed in favour of Least Developed Countries.
used for a variety of purposes.
The total cash value of an account, including the amount of profit or loss
be incurred if the existing futures positions were liquidated at th
Taking advantage of the right to buy or sell the underlying futures contract at the
agreed upon strike price.
A legal trade executed outside the exchange trading ring.
Used normally to transfer positions from one clearer to another.
EU "quota" and subsidized
The EU subsidies and a high import tariff make it difficult for other countries to
export sugar to the EU states, or to compete with the Europeans on world
ntity of sugar entered but not contained in the raw juice as a percentage of
Undesirable small crystals.
Beet with multiple tap roots.
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party trading
Commercial term for dried (including pressed) cossettes from which no sugar has
or loss that
be incurred if the existing futures positions were liquidated at the current
Taking advantage of the right to buy or sell the underlying futures contract at the
The EU subsidies and a high import tariff make it difficult for other countries to
export sugar to the EU states, or to compete with the Europeans on world
ntity of sugar entered but not contained in the raw juice as a percentage of
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Final molasses

The black syrup, commonly known as molasses or ‘C’
sugar syrup has been boiled and passed through the centrifugal for the last item
in a mill or refinery.
The sugar it contains cannot be removed economically.
A typical analysis of final molasses includes sucrose
(16.5%), ash (11.3%), water
(16.3%).
The ash includes calcium, magnesium, potassium, silicon, iron, and phosphorous
and other elements in the form of inorganic salts.


Force Majeure

Events and happenings that occur which prevent or delay loading or shipping
These events, as stated in the rules of SAL and
War, strikes, rebellion, insurrection,
commotion, fire, stress of
(Whether or not of like kind to those before
control.

Form A

Otherwise known as GSTP Form A showing that the sugar is from a country
origin which is a member of the General System of Tr

Fructose

A sugar, which occurs in, fruit, the nectar of flowers, honey, and in cane juice and
sugar products. It is formed in equal quantity with glucose when sucrose is
inverted. In solution, it rotates polarized light to the left. It h
composition C6H12O6.

Fuel ethanol

Ethanol blended with petrol, used as a fuel for the transportation sector.
Ethanol is now the most widely used alternative fuel in the world; the biggest use
of ethanol in the United States is as an addit
oxygenate (to prevent air pollution from carbon monoxide and ozone), as an
octane booster (to prevent early ignition, or 'engine knock'), and as an extender
of gasoline.

GSTP

General System of Trade Preferences. A ce
Form A) showing that the country of origin of the sugar is a member of the
group of countries. This is one of the documents that
enter sugar into other GSTP countries at often preferent

Glucose

A sugar, which occurs naturally in grapes, honey, sweet fruits, and in cane juice
and sugar products. It can also be made from wheat. In the human body, sucrose
is converted into glucose and fructose before being used to
the chemical composition C
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The black syrup, commonly known as molasses or ‘C’ syrup, remaining after the
sugar syrup has been boiled and passed through the centrifugal for the last item
The sugar it contains cannot be removed economically.
A typical analysis of final molasses includes sucrose (34.1%), reduci
water (21.8%) and various sugar, gums and acids
The ash includes calcium, magnesium, potassium, silicon, iron, and phosphorous
and other elements in the form of inorganic salts.
ngs that occur which prevent or delay loading or shipping
as stated in the rules of SAL and RSA, are as follows:
insurrection, political or labour disturbances,
stress of weather, act of God or any cause of force majeure
or not of like kind to those before mentioned) beyond the sellers
Otherwise known as GSTP Form A showing that the sugar is from a country
which is a member of the General System of Trade Preferences
A sugar, which occurs in, fruit, the nectar of flowers, honey, and in cane juice and
sugar products. It is formed in equal quantity with glucose when sucrose is
inverted. In solution, it rotates polarized light to the left. It has the chemical
Ethanol blended with petrol, used as a fuel for the transportation sector.
Ethanol is now the most widely used alternative fuel in the world; the biggest use
of ethanol in the United States is as an additive in gasoline. It serves as an
oxygenate (to prevent air pollution from carbon monoxide and ozone), as an
octane booster (to prevent early ignition, or 'engine knock'), and as an extender
General System of Trade Preferences. A certificate (sometimes referred to as a
showing that the country of origin of the sugar is a member of the
of countries. This is one of the documents that are necessary in order to
into other GSTP countries at often preferential rates of import duty.
A sugar, which occurs naturally in grapes, honey, sweet fruits, and in cane juice
and sugar products. It can also be made from wheat. In the human body, sucrose
is converted into glucose and fructose before being used to provide energy. It has
the chemical composition C6H12O6 and may also be called dextrose
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syrup, remaining after the
sugar syrup has been boiled and passed through the centrifugal for the last item
reducing sugars
gums and acids
The ash includes calcium, magnesium, potassium, silicon, iron, and phosphorous
ngs that occur which prevent or delay loading or shipping.
follows:
disturbances, civil
r any cause of force majeure
beyond the sellers
Otherwise known as GSTP Form A showing that the sugar is from a country of
ade Preferences.
A sugar, which occurs in, fruit, the nectar of flowers, honey, and in cane juice and
sugar products. It is formed in equal quantity with glucose when sucrose is
as the chemical
Ethanol blended with petrol, used as a fuel for the transportation sector.
Ethanol is now the most widely used alternative fuel in the world; the biggest use
ive in gasoline. It serves as an
oxygenate (to prevent air pollution from carbon monoxide and ozone), as an
octane booster (to prevent early ignition, or 'engine knock'), and as an extender
referred to as a
showing that the country of origin of the sugar is a member of the GSTP
necessary in order to
ial rates of import duty.
A sugar, which occurs naturally in grapes, honey, sweet fruits, and in cane juice
and sugar products. It can also be made from wheat. In the human body, sucrose
provide energy. It has
and may also be called dextrose.
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Hardening of brown sugar

Brown Sugars have a natural tendency to harden upon storage due to inherent
moisture.
The ideal storage conditions for these sugars are
10-22 degrees and with a humidity variation within
However, if storage conditions are not right, then the product will turn hard.
To soften the hard natural brown sugar is to expose it to moisture
putting it in a container and covering it with damp cloth or by putting some apple
wedges in the container and close the lid.

Helms Burton Act

American legislation that prevents US companies and their overseas subsidiaries
from trading Cuban sugar.

HFCS

High Fructose Corn Syrup.
This is the most common name for starch
Corn is the starch base of these syrups. Other suitable but not as widely used
starch sources include rice, wheat and tapioca. In Europe HFCS is referred to
iso-glucose.

ICUMSA

International Commission for Uniform Methods of Sugar Analysis. A scale of
measurement for the colour
sugar.

Insoluble Solids

Insoluble material in mixed juice or press water mud,
by filtration according to a prescribed method.

Initial Margin

The amount of money that must be deposited in an account when a futures
position is established. Also called Original Margin

International Scale(of polarization pr

For every full degree above
above 97to and including
including 99 add 1.0%. Fractions of degree are calculated pro

Intermixed Cane

That portion of cane on a cane carrier originating from the overlapping of
different consignments.
Its composition is unlikely to be representative of anyone consignment and it is
therefore excluded from consignment sampling.



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Hardening of brown sugar
Brown Sugars have a natural tendency to harden upon storage due to inherent
The ideal storage conditions for these sugars are a constant temperature between
degrees and with a humidity variation within 40-60%.
However, if storage conditions are not right, then the product will turn hard.
To soften the hard natural brown sugar is to expose it to moisture (surprising)
tting it in a container and covering it with damp cloth or by putting some apple
wedges in the container and close the lid.
that prevents US companies and their overseas subsidiaries
from trading Cuban sugar.
High Fructose Corn Syrup.
This is the most common name for starch-based fructose/glucose syrups.
Corn is the starch base of these syrups. Other suitable but not as widely used
starch sources include rice, wheat and tapioca. In Europe HFCS is referred to
International Commission for Uniform Methods of Sugar Analysis. A scale of
measurement for the colour of sugar. The lower the ICUMSA, the whiter
Insoluble material in mixed juice or press water mud, determined gravimetrically
according to a prescribed method.
The amount of money that must be deposited in an account when a futures
Also called Original Margin
International Scale(of polarization premiums).
For every full degree above 96 to and including 97 add 1.5%, for every degree
to and including 98 add 1.25%, and for every degree above
Fractions of degree are calculated pro rata.
portion of cane on a cane carrier originating from the overlapping of

Its composition is unlikely to be representative of anyone consignment and it is
therefore excluded from consignment sampling.
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Brown Sugars have a natural tendency to harden upon storage due to inherent
a constant temperature between
However, if storage conditions are not right, then the product will turn hard.
(surprising) by
tting it in a container and covering it with damp cloth or by putting some apple
that prevents US companies and their overseas subsidiaries
based fructose/glucose syrups.
Corn is the starch base of these syrups. Other suitable but not as widely used
starch sources include rice, wheat and tapioca. In Europe HFCS is referred to as
International Commission for Uniform Methods of Sugar Analysis. A scale of
the whiter the
determined gravimetrically
The amount of money that must be deposited in an account when a futures
for every degree
and for every degree above 98 to and

portion of cane on a cane carrier originating from the overlapping of
Its composition is unlikely to be representative of anyone consignment and it is
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International Sugar Agreemen

The International Sugar Agreement of
A United Nations Sugar Conference met in Geneva during September and
October, and prepared the text of a new International Sugar Agreement.

ISO

International Sugar Organization

Inverse

Positive price differential where the price of the nearby shipment position is at a
premium to the more deferred position.

Juice

Mixed juice the mixture of juices from the extraction plant delivered into
scales. Press water the juice expressed in dewatering diff

Juice purification

Partial removal of no sugar
juice.

Laytime

The period of time agreed between the parties during which the vessel owner
make and keep the vessel available for l
additional to the freight.

Limit Orders

Orders to brokers to buy or sell at a specified price or better. Sometimes called
resting orders.

Liner Out

The seller / ship owner delivers the commodity to the port of
discharges on to the quay at no cost to the buyer. No demurrage or dispatch to
be paid.

LDA

Late Delivery Allowance.

LDCs

Least Developed Countries

Magma

Mixture of crystals and syrup


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International Sugar Agreement
The International Sugar Agreement of 1958:
A United Nations Sugar Conference met in Geneva during September and
October, and prepared the text of a new International Sugar Agreement.
International Sugar Organization
erential where the price of the nearby shipment position is at a
premium to the more deferred position.
mixture of juices from the extraction plant delivered into
juice expressed in dewatering diffuser bagasse.
no sugar substances from the raw juice while producing a thin
The period of time agreed between the parties during which the vessel owner
and keep the vessel available for loading or discharging without

Orders to brokers to buy or sell at a specified price or better. Sometimes called
The seller / ship owner delivers the commodity to the port of discharge and
discharges on to the quay at no cost to the buyer. No demurrage or dispatch to

Least Developed Countries.
Mixture of crystals and syrup.
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A United Nations Sugar Conference met in Geneva during September and
October, and prepared the text of a new International Sugar Agreement.
erential where the price of the nearby shipment position is at a
mixture of juices from the extraction plant delivered into the juice
user bagasse.
substances from the raw juice while producing a thin
The period of time agreed between the parties during which the vessel owner will
oading or discharging without payment
Orders to brokers to buy or sell at a specified price or better. Sometimes called
discharge and
discharges on to the quay at no cost to the buyer. No demurrage or dispatch to
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Minimum Price Fluctuation

Also called minimum tick. The minimum price increment in a futures market. In
New York No.11 Sugar it is

Mill Whites

Low quality white sugar produced directly at the mill with a color usually around
300 ICUMSA. (Otherwise known as plantation whites.)

Notice of Readiness (NOR)

The notice to charterer, shipper, receiver, or other person as required by the
charter party that the vessel has arrived at the port or berth and is ready to load
or discharge.

Mixer

Apparatus to distribute magma to the centrifugals

Moistness in sugar sachets during storage

All natural brown sugars
existing moisture to become moist and hard.
The basic character of being
minerals is the main reason why this natural brown sugar retains & imparts rich
flavor to foodstuff.
Moisture absorption is a factor of external parameters like ambient humidity,
storage conditions, packing conditions and am
contents in natural brown sugars.

Molassed dried pulp

Commercial term for a mixture of dried pressed pulp and molasses

Molasses

The sugar-bearing product of the sugar end whose purity has been reduced to the
point that further crystallization of sugar is not economical feasible without
special treatment of molasses

Mud

The material removed from the bottom part of the
the settled insoluble solids.

Net titer (nt)

A measure of the commercial value of raw sugar for refining purposes.
Net titer provides a method for expressing different sugar at a standard value and
is used of statistical and payment purposes.
The net titer of a sugar is calculated by subtracting the reducing sugar cont
and five times the ash content from the polarization of the sugar.


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Minimum Price Fluctuation
m tick. The minimum price increment in a futures market. In
Sugar it is 1 point, which equals $11.20 per contract of
white sugar produced directly at the mill with a color usually around
rwise known as plantation whites.)
Notice of Readiness (NOR)
The notice to charterer, shipper, receiver, or other person as required by the
charter party that the vessel has arrived at the port or berth and is ready to load
atus to distribute magma to the centrifugals.
Moistness in sugar sachets during storage
have a natural tendency to absorb moisture or use
existing moisture to become moist and hard.
The basic character of being hygroscopic, 100% natural, containing
the main reason why this natural brown sugar retains & imparts rich
Moisture absorption is a factor of external parameters like ambient humidity,
storage conditions, packing conditions and amount of natural mineral and nutrient
contents in natural brown sugars.
Commercial term for a mixture of dried pressed pulp and molasses.
bearing product of the sugar end whose purity has been reduced to the
that further crystallization of sugar is not economical feasible without
special treatment of molasses.
The material removed from the bottom part of the subsides. The mud contains
solids.
ercial value of raw sugar for refining purposes.
Net titer provides a method for expressing different sugar at a standard value and
is used of statistical and payment purposes.
The net titer of a sugar is calculated by subtracting the reducing sugar cont
and five times the ash content from the polarization of the sugar.
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m tick. The minimum price increment in a futures market. In
per contract of 50 tons.
white sugar produced directly at the mill with a color usually around
The notice to charterer, shipper, receiver, or other person as required by the
charter party that the vessel has arrived at the port or berth and is ready to load
have a natural tendency to absorb moisture or use
natural, containing molasses,
the main reason why this natural brown sugar retains & imparts rich
Moisture absorption is a factor of external parameters like ambient humidity,
ount of natural mineral and nutrient
.
bearing product of the sugar end whose purity has been reduced to the
that further crystallization of sugar is not economical feasible without
. The mud contains
ercial value of raw sugar for refining purposes.
Net titer provides a method for expressing different sugar at a standard value and
The net titer of a sugar is calculated by subtracting the reducing sugar content

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Non-centrifugal sugars

In some areas of the world sugar cane juice is merely evaporated to produce a
crude raw sugar; the sugar crystals are not removed from the mother syrup in
centrifugals.
The sugar is generally consumed where it is produced. Some of these sugars are
known as Jaggery, Gur, Piloncilo and Muscovado.
Jaggery and Gur are made in India by evaporating cane juice in an open pan. The
juice is evaporated to almost dryn
A large amount of sugar consumed in India is in this form.

Nonsucrose

Substances contained in raw material and

Nonsucrose content

Difference between dry substance co

Nonsugar

Common overall term for substances contained in the raw materials and products
of the sugar industry except sucrose (sugar) and water

Nonsugar content

Difference between dry substance content and sugar content i
Sugar content (a) and (b) (q.v.)

Normal Mass

The mass of sample equal to the normal mass of sucrose.
That mass of pure dry sucrose which, when dissolved in water to a total volume
of 100cm3 at 20°C and read at the same temperature in
gives a reading of 100 degrees on a saccharimeter scale
International Sugar Scale the normal mass of sucrose is

Nucleation

Generation and development

Pelleted seed

Beet seed brought to uniform size by coating

Per Hatch Per Day

Means that the lay time is to be calculated by dividing the quantity of cargo by
the result of multiplying the agreed daily per hatch by the number of the
vessel’s hatches. Each pair of pa
Nevertheless, a hatch that can be worked simultaneously by two gangs shall be
counted as two hatches.

Piled beet

Stored beet (as distinct from freshly harvested beet)
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centrifugal sugars
In some areas of the world sugar cane juice is merely evaporated to produce a
crude raw sugar; the sugar crystals are not removed from the mother syrup in
The sugar is generally consumed where it is produced. Some of these sugars are
known as Jaggery, Gur, Piloncilo and Muscovado.
Jaggery and Gur are made in India by evaporating cane juice in an open pan. The
juice is evaporated to almost dryness and is then cast in open moulds or loaves.
A large amount of sugar consumed in India is in this form.
Substances contained in raw material and its products except sucrose and water
Difference between dry substance content and its sucrose content.
Common overall term for substances contained in the raw materials and products
of the sugar industry except sucrose (sugar) and water.
Difference between dry substance content and sugar content in the meaning of
Sugar content (a) and (b) (q.v.).
The mass of sample equal to the normal mass of sucrose.
That mass of pure dry sucrose which, when dissolved in water to a total volume
C and read at the same temperature in a tube 200
degrees on a saccharimeter scale. According to the
International Sugar Scale the normal mass of sucrose is 26,000 g.
Generation and development of small crystals capable of growth.
et seed brought to uniform size by coating.
Means that the lay time is to be calculated by dividing the quantity of cargo by
the result of multiplying the agreed daily per hatch by the number of the
vessel’s hatches. Each pair of parallel twin hatches shall count as one hatch.
Nevertheless, a hatch that can be worked simultaneously by two gangs shall be

Stored beet (as distinct from freshly harvested beet).
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In some areas of the world sugar cane juice is merely evaporated to produce a
crude raw sugar; the sugar crystals are not removed from the mother syrup in
The sugar is generally consumed where it is produced. Some of these sugars are
Jaggery and Gur are made in India by evaporating cane juice in an open pan. The
ess and is then cast in open moulds or loaves.
products except sucrose and water.

Common overall term for substances contained in the raw materials and products
n the meaning of
That mass of pure dry sucrose which, when dissolved in water to a total volume
200 mm long,
According to the

Means that the lay time is to be calculated by dividing the quantity of cargo by
the result of multiplying the agreed daily per hatch by the number of the
rallel twin hatches shall count as one hatch.
Nevertheless, a hatch that can be worked simultaneously by two gangs shall be
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Plantation Whites

Low quality or unrefined white sugar produced directly at the mill.

Points

One point is 1/100 of one cent per pound
points per pound into dollars per metric tone multiply them by
convert them into dollars per long ton

Polarization

Measurement of sucrose content in sugar
sucrose. Raw sugar is usually traded basis

Polarization Premiums

Scale of payments for rewarding the producer for delivering su
polarizations or penalizing the producer for delivering sugar between

Pol

The apparent sucrose content of any substance expressed as a percentage by
mass and determined by the single or direct
used as if it were a real substance.

Polarization

Term customarily used in sugar analysis for the optical rotation of a sugar
industry product, measured under the same conditions

Precision seed

Monogerm seed produced from multi

Preparation index

Percentage ratio of dry substance in ruptured cells to total dry substance in cane

Pressed pulp

Pressed, exhausted cossettes, leaving the pulp presses

Processed seed

Beet seed brought to a uniform size by mechanical treat

Purity

The percentage ratio of sucrose (or pol) to the total soluble solids (or brix) in a
sugar product. The following terms are in general use:
Refractive apparent purity: The percentage ratio of pol to refractometer brix.
G.C. sucrose refractometer brix purity: The percentage ratio of GC sucrose
torefractometer brix.


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refined white sugar produced directly at the mill.
of one cent per pound. To convert the price of sugar from
points per pound into dollars per metric tone multiply them by 0.220462
convert them into dollars per long ton multiply by 0.224.
Measurement of sucrose content in sugar. 100 are maximum and means
Raw sugar is usually traded basis 96 polarizations.
Polarization Premiums
Scale of payments for rewarding the producer for delivering sugar above
polarizations or penalizing the producer for delivering sugar between
The apparent sucrose content of any substance expressed as a percentage by
determined by the single or direct polarization method. The term is
d as if it were a real substance.
Term customarily used in sugar analysis for the optical rotation of a sugar
industry product, measured under the same conditions.
Monogerm seed produced from multi-germ seed by rubbing and grading
Percentage ratio of dry substance in ruptured cells to total dry substance in cane
Pressed, exhausted cossettes, leaving the pulp presses.
Beet seed brought to a uniform size by mechanical treatment and screening
The percentage ratio of sucrose (or pol) to the total soluble solids (or brix) in a
. The following terms are in general use:
Refractive apparent purity: The percentage ratio of pol to refractometer brix.
crose refractometer brix purity: The percentage ratio of GC sucrose
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To convert the price of sugar from
0.220462. To
are maximum and means 100%
gar above 96
polarizations or penalizing the producer for delivering sugar between 96 and 93.
The apparent sucrose content of any substance expressed as a percentage by
method. The term is
Term customarily used in sugar analysis for the optical rotation of a sugar
grading.
Percentage ratio of dry substance in ruptured cells to total dry substance in cane.
ment and screening.
The percentage ratio of sucrose (or pol) to the total soluble solids (or brix) in a
Refractive apparent purity: The percentage ratio of pol to refractometer brix.
crose refractometer brix purity: The percentage ratio of GC sucrose
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Purity

Sugar content as percent of dry

Raw juice

Juice obtained from beet or cane after extraction, pressing or milling

Raw juice draft

Mass of juice drawn from the extraction plant as percent of mass of cossettes
introduced.

Ratoon

Cane, which grows from the stools, left in the ground after crop has been
harvested.

Raw Sugar

Raw sugar is a tan to brown, coarse granulated solid obtained on evaporation o
clarified sugar cane juice. Raw sugar is processed from the cane at a sugar mill
and then shipped to a refinery
consumers.
Reducing sugars

Reducing sugars are those, which have the ability to chemical
oxygen) certain other chemical compounds.
In milling and refining, reducing sugars (mainly glucose and fructose) are
regarded as impurities.
Refined sugar

After being harvested, the sugar cane is sent to the refinery (sugar is always
transported in a raw or partially refined condition as humidity will damage a fully
refined bulk shipment) where it is first washed to remove soil and impurities.

Sugar which has passed through the refining process (involving removal of
impurities) making it more suitable for direct human consumption or use in the
manufacture of other foods.
Recoverable sugar

Part of the sugar in beet, which can be obtained as white sugar in % on beet

Refining

Purification of sugar through

Remelting

Refers to taking domestically produced raw sugar and refining it into whites either
for local consumption or for export. (Usually refers to Thailand.)


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Sugar content as percent of dry.
Juice obtained from beet or cane after extraction, pressing or milling
n from the extraction plant as percent of mass of cossettes
Cane, which grows from the stools, left in the ground after crop has been
Raw sugar is a tan to brown, coarse granulated solid obtained on evaporation o
clarified sugar cane juice. Raw sugar is processed from the cane at a sugar mill
and then shipped to a refinery. It is about 98% sucrose. Raw sugar is not sold to
Reducing sugars are those, which have the ability to chemically reduce (withdraw
oxygen) certain other chemical compounds.
In milling and refining, reducing sugars (mainly glucose and fructose) are
After being harvested, the sugar cane is sent to the refinery (sugar is always
transported in a raw or partially refined condition as humidity will damage a fully
refined bulk shipment) where it is first washed to remove soil and impurities.
Sugar which has passed through the refining process (involving removal of
g it more suitable for direct human consumption or use in the
manufacture of other foods. Also known as white sugar.
Part of the sugar in beet, which can be obtained as white sugar in % on beet
Purification of sugar through recrystallizing and chemical and physical methods
Refers to taking domestically produced raw sugar and refining it into whites either
for local consumption or for export. (Usually refers to Thailand.)
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Juice obtained from beet or cane after extraction, pressing or milling.
n from the extraction plant as percent of mass of cossettes
Cane, which grows from the stools, left in the ground after crop has been
Raw sugar is a tan to brown, coarse granulated solid obtained on evaporation of
clarified sugar cane juice. Raw sugar is processed from the cane at a sugar mill
Raw sugar is not sold to

ly reduce (withdraw
In milling and refining, reducing sugars (mainly glucose and fructose) are

After being harvested, the sugar cane is sent to the refinery (sugar is always
transported in a raw or partially refined condition as humidity will damage a fully
refined bulk shipment) where it is first washed to remove soil and impurities.
Sugar which has passed through the refining process (involving removal of
g it more suitable for direct human consumption or use in the

Part of the sugar in beet, which can be obtained as white sugar in % on beet.
recrystallizing and chemical and physical methods.
Refers to taking domestically produced raw sugar and refining it into whites either
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Remelting

Refers to taking domestical
for local consumption or for export. (Usually refers to Thailand.)

RSA

Refined Sugar Association.

Run-off (syrup)

General term for syrups produced on centrifuging

SAL

Sugar Association of London.

SEOs

Seller’s Executable Orders where the seller gives instructions to the buyer to sell
futures to set the final contract price plus or minus the premium or discount.

Silin number

Length in meters of 100 grams of cossettes


Spreads

Price differentials between different forward shipment positions for either
physicals or futures.


Stop Orders

Orders to buy or sell at the market if the contract trades at or through a specified
price (the stop price).

Stop Limit Orders

Orders to buy or sell at a specified price or better if the contract at or through a
specified stop price.

Store brown sugar

Store brown sugar in a way that allows the product to retain its natural moisture
in its original plastic bag (closed tightly) or in a moistu
sugar hardens, let it stand overnight in a sealed jar with a damp paper towel or
apple slice. For a quick fix
minutes, or microwave on low for

Strike

A concerted industrial action by workmen causing a complete stoppage of there
work which directly interferes with the working of the vessel. Refusal to work
overtime, go-slow, or working to rule and comparable actions not causing a
complete stoppage shall not be considered a strike.
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Refers to taking domestically produced raw sugar and refining it into whites either
for local consumption or for export. (Usually refers to Thailand.)
Refined Sugar Association.
General term for syrups produced on centrifuging magma.
of London.
Seller’s Executable Orders where the seller gives instructions to the buyer to sell
futures to set the final contract price plus or minus the premium or discount.
grams of cossettes.
ce differentials between different forward shipment positions for either
Orders to buy or sell at the market if the contract trades at or through a specified
or sell at a specified price or better if the contract at or through a
Store brown sugar in a way that allows the product to retain its natural moisture
in its original plastic bag (closed tightly) or in a moisture-proof container. If the
sugar hardens, let it stand overnight in a sealed jar with a damp paper towel or
For a quick fix, heat the needed amount in a 250 oven for a few
or microwave on low for 1-2 minutes per cup. Use immediately
A concerted industrial action by workmen causing a complete stoppage of there
work which directly interferes with the working of the vessel. Refusal to work
slow, or working to rule and comparable actions not causing a
complete stoppage shall not be considered a strike.
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ly produced raw sugar and refining it into whites either
Seller’s Executable Orders where the seller gives instructions to the buyer to sell
futures to set the final contract price plus or minus the premium or discount.
ce differentials between different forward shipment positions for either
Orders to buy or sell at the market if the contract trades at or through a specified
or sell at a specified price or better if the contract at or through a
Store brown sugar in a way that allows the product to retain its natural moisture-
proof container. If the
sugar hardens, let it stand overnight in a sealed jar with a damp paper towel or
oven for a few
Use immediately
A concerted industrial action by workmen causing a complete stoppage of there
work which directly interferes with the working of the vessel. Refusal to work
slow, or working to rule and comparable actions not causing a
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Strike Price

The fixed price in a range of fixed prices in the option market at which the calls or
puts are traded, for a premium to the seller / granter.

Sucrose

The pure disaccharide α-D
commonly as sugar.
In the South African Sugar Industry sucrose is determined by GC.

Sugar Cane

Botanically a tall grass of the genus Saccharum and agriculturally the
produced from hybrids which are the progeny of a number of Saccharum species
commonly referred to as cane. Specifically for the determination and distribution
of sucrose in cane it is the raw material accepted at the mill for processing.

Sugar No. 11 contract

Is the world benchmark contract for raw sugar trading.
The contract prices the physical delivery
vessel to a port within the country of origin of the sugar.

Supersaturation coefficient

Quotient formed by dividing th
the sugar/water ratio of a saturated solution under the same conditions
(temperature and purity or


Supersaturation, critical

Supersaturation at which nucleation begins spontaneou

Surplus Sugar

Formerly known as C sugar, surplus sugar is that which is produced in
excess quota. Starting in
Sugar buy these feom beet growers
handled.

Syrup

General term for sugar solutions of higher concentration


Swedish number

Ratio of the mass of cossettes longer than






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The fixed price in a range of fixed prices in the option market at which the calls or
puts are traded, for a premium to the seller / granter.
D-glucopyranosyl-β-D-fructofuranoside, known
In the South African Sugar Industry sucrose is determined by GC.
Botanically a tall grass of the genus Saccharum and agriculturally the
ids which are the progeny of a number of Saccharum species
commonly referred to as cane. Specifically for the determination and distribution
of sucrose in cane it is the raw material accepted at the mill for processing.

ld benchmark contract for raw sugar trading.
The contract prices the physical delivery of raw cane sugar, free-on-board the receiver's
vessel to a port within the country of origin of the sugar.
Supersaturation coefficient
Quotient formed by dividing the sugar/water ratio of a supersaturated solution by
the sugar/water ratio of a saturated solution under the same conditions
(temperature and purity or no sugar/water ratio)
Supersaturation, critical
Supersaturation at which nucleation begins spontaneously.
Formerly known as C sugar, surplus sugar is that which is produced in
Starting in 2006, there has been an agreement in place that British
these feom beet growers at a reduced price, similar to how C beet was
General term for sugar solutions of higher concentration.
Ratio of the mass of cossettes longer than 5 cm to those shorter than
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The fixed price in a range of fixed prices in the option market at which the calls or
fructofuranoside, known

Botanically a tall grass of the genus Saccharum and agriculturally the crop
ids which are the progeny of a number of Saccharum species
commonly referred to as cane. Specifically for the determination and distribution
of sucrose in cane it is the raw material accepted at the mill for processing.
board the receiver's
e sugar/water ratio of a supersaturated solution by
the sugar/water ratio of a saturated solution under the same conditions.
Formerly known as C sugar, surplus sugar is that which is produced in
there has been an agreement in place that British
at a reduced price, similar to how C beet was
cm to those shorter than 1 cm.
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Switch

Liquidating a futures position in one delivery month while simultaneously
establishing that position in another delivery month.

Transport water

Water used to transport beet

Tel Quel

Literally Quality as is A method of buying or selling sugar when the seller includes
the cost of the polarization premiums in the price. Theref
premiums are to be paid.

Time Value

The amount of the option premium that exceeds its intrinsic value.

Tolling

The refining of imported raw sugar for

Trade house

A company or corporation that
his or her own account and risk.

TCSC

Thai Cane Sugar Corporation.

TSTC

Thai Sugar Trading Corporation.

Turbinado sugar

Turbinado sugar is raw sugar that has been refined to a light tan color by washing
in a centrifuge under sanitary conditions. Surface molasses is removed in the
washing process. In total sugar content turbinado is closer to refined sugar than
to raw sugar. It can be purchased in many health food stores and some
supermarkets.

UK Scale

Scale of polarization premiums
sugar with a polarization from
pro rata. No extra premium to be paid above


U.S producers of sugar have switched to corn syru

The United States sets high sugar prices to support its producers, with the effect
that many former consumers of sugar have switched to
manufacturers) or moved

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a futures position in one delivery month while simultaneously
establishing that position in another delivery month.
Water used to transport beet.
A method of buying or selling sugar when the seller includes
the cost of the polarization premiums in the price. Therefore, no polarization
premiums are to be paid.
The amount of the option premium that exceeds its intrinsic value.
The refining of imported raw sugar for re-exports as whites.
A company or corporation that buys sells and transports physical commodity for
his or her own account and risk.
Thai Cane Sugar Corporation.
Thai Sugar Trading Corporation.
Turbinado sugar is raw sugar that has been refined to a light tan color by washing
entrifuge under sanitary conditions. Surface molasses is removed in the
washing process. In total sugar content turbinado is closer to refined sugar than
to raw sugar. It can be purchased in many health food stores and some
f polarization premiums. Buyer has to pay an extra 1.4% per degree for
sugar with a polarization from 96 to 99 degree. Part of a degree to be charged
No extra premium to be paid above 99 degree.
U.S producers of sugar have switched to corn syrup
The United States sets high sugar prices to support its producers, with the effect
that many former consumers of sugar have switched to corn syrup
manufacturers) or moved out of the country (candy makers).
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a futures position in one delivery month while simultaneously
A method of buying or selling sugar when the seller includes
ore, no polarization
The amount of the option premium that exceeds its intrinsic value.
and transports physical commodity for
Turbinado sugar is raw sugar that has been refined to a light tan color by washing
entrifuge under sanitary conditions. Surface molasses is removed in the
washing process. In total sugar content turbinado is closer to refined sugar than
to raw sugar. It can be purchased in many health food stores and some
per degree for
Part of a degree to be charged
The United States sets high sugar prices to support its producers, with the effect
(beverage
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Variation in crystal size & color of brown sugars

The natural brown sugars at sugarindia are not
sugars.
A non natural brown sugar is simply a white sugar crystal, which is then sprayed
with some form coloring to give it a 'brown' appearance, in which case
manufacturer has a option to control both grain size and color of finished product.
Natural Brown sugars such as demerara, coffee sugar, muscovado etc are
produced directly from sugar c

Variation Margin

The amount of money that must be deposited in a futures account to restore the
equity back to the initial margin requirement.

Ventilation of stored beet

Introduction of air current in order to maintain desired storage temperature

VHPs

Very High Polarization Sugar. A non
Brazilian sugar that has a polarization between
VHPs can refer to bulk raw with a polarization above

VVHPs

Very Very High Polarization sugar. A non
Brazilian sugar with a polarization above
Bks, which refers to VVHPs with a maximum ICUMSA of

WABCG

World Association of Beet and Cane Growers

Washing

Washing of the crystals during centrifuging with syrup, water or steam

Washing off

Unloading of beet by water jet

Wash run-off (syrup)

Syrup produced in washing sugar during centrifuging

Wheat and Corn (maize) threaten the traditional sugar ma

The Cheap prices of glucose syrups produced from wheat and corn threaten the
traditional sugar market.
Used in combination with artificial sweeteners they can allow drink
manufacturers to produce very low

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Variation in crystal size & color of brown sugars
The natural brown sugars at sugarindia are not produced by coloring refined
A non natural brown sugar is simply a white sugar crystal, which is then sprayed
with some form coloring to give it a 'brown' appearance, in which case
manufacturer has a option to control both grain size and color of finished product.
Natural Brown sugars such as demerara, coffee sugar, muscovado etc are
produced directly from sugar cane.
The amount of money that must be deposited in a futures account to restore the
equity back to the initial margin requirement.
Ventilation of stored beet
Introduction of air current in order to maintain desired storage temperature
Very High Polarization Sugar. A non-exact term that usually refers to bulk
Brazilian sugar that has a polarization between 99.0 and 99.5 degree
VHPs can refer to bulk raw with a polarization above 99.5 degree.
larization sugar. A non-exact term that usually refers to bulk
Brazilian sugar with a polarization above 99.5 degree. (They can also be called
which refers to VVHPs with a maximum ICUMSA of 750).
World Association of Beet and Cane Growers.
Washing of the crystals during centrifuging with syrup, water or steam
Unloading of beet by water jet

Syrup produced in washing sugar during centrifuging.
Wheat and Corn (maize) threaten the traditional sugar market
The Cheap prices of glucose syrups produced from wheat and corn threaten the
traditional sugar market.
Used in combination with artificial sweeteners they can allow drink
manufacturers to produce very low-cost goods.
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produced by coloring refined
A non natural brown sugar is simply a white sugar crystal, which is then sprayed
with some form coloring to give it a 'brown' appearance, in which case
manufacturer has a option to control both grain size and color of finished product.
Natural Brown sugars such as demerara, coffee sugar, muscovado etc are
The amount of money that must be deposited in a futures account to restore the
Introduction of air current in order to maintain desired storage temperature.
exact term that usually refers to bulk
degree. In Thailand
exact term that usually refers to bulk
They can also be called
Washing of the crystals during centrifuging with syrup, water or steam
rket
The Cheap prices of glucose syrups produced from wheat and corn threaten the
Used in combination with artificial sweeteners they can allow drink
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Weather Working Day (WWD)

A working day of 24 consecutive hours except for any time when prevents the
loading or unloading of the vessel or would have prevented it had work been
progress.

Weight variation in sachets

Weight variation in sugar sachets is an inevitable phenomen
Though customers have nothing to lose.
Sugarindia packs sachets/ tubes of sugar by weight & not by counting.
Net weight of each carton is
each or as the case may be.

Whites Premiums

Usually refers to the price differential between raw and white sugar as shown by
the New York and London futures markets. (Expressed in dollars).


WIBON

Whether in Berth Or Not. If no loading or discharging berth is available on her
arrival, the vessel, on reach
entitled to tender notice of readiness from it and lay time shall continue in
accordance with the charter party.

WIFPON

Whether In Free Pratique Or Not. The completion of customs formalities shal
be a condition precedent to tendering notice of readiness, but any time lost by
reason of delay in the vessel’s completion of these formalities shall not count as
lay time or time on demurrage.




















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Weather Working Day (WWD)
consecutive hours except for any time when prevents the
loading or unloading of the vessel or would have prevented it had work been
Weight variation in sachets
Weight variation in sugar sachets is an inevitable phenomenon.
Though customers have nothing to lose.
Sugarindia packs sachets/ tubes of sugar by weight & not by counting.
Net weight of each carton is 10kg counting ideally 2000 sachets/ tubes of
each or as the case may be.
s to the price differential between raw and white sugar as shown by
the New York and London futures markets. (Expressed in dollars).
Whether in Berth Or Not. If no loading or discharging berth is available on her
arrival, the vessel, on reaching any usual waiting place at or off the port, shall be
entitled to tender notice of readiness from it and lay time shall continue in
accordance with the charter party.
Whether In Free Pratique Or Not. The completion of customs formalities shal
be a condition precedent to tendering notice of readiness, but any time lost by
reason of delay in the vessel’s completion of these formalities shall not count as
lay time or time on demurrage.
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consecutive hours except for any time when prevents the
loading or unloading of the vessel or would have prevented it had work been
Sugarindia packs sachets/ tubes of sugar by weight & not by counting.
tubes of 5 gms
s to the price differential between raw and white sugar as shown by
Whether in Berth Or Not. If no loading or discharging berth is available on her
ing any usual waiting place at or off the port, shall be
entitled to tender notice of readiness from it and lay time shall continue in
Whether In Free Pratique Or Not. The completion of customs formalities shall not
be a condition precedent to tendering notice of readiness, but any time lost by
reason of delay in the vessel’s completion of these formalities shall not count as
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TYPES OF SUGARS


SUGAR

Extra-
shine & texture on baking.
specially for the baking industry.

Baker's Sugar

Rich brown sugar having a nutty, caramel flavor, natural moistness,
and subtle molasses aroma. Nutritious substitute for table sugar

Barbados

Granulated sugar melted to
characteristics

Barley sugar

Light to dark brown sugar
inherent molasses content. Its natural moistness and deep, rich aroma
makes it ideal for full

Brown sugar

Produced by slow crystallization of a concentrated sugar solution, this
sugar is commonly used in Belgium be
light to dark. When added to beer, it thins out the high gravity beers
and contributes color and, for the dark version, some residual caramel
flavors.

Cane juice

Produced by slow crystallization of a concentrated sugar
sugar is commonly used in Belgium beers. It comes in several colors
light to dark. When added to beer, it thins out the high gravity beers
and contributes color and, for the dark version, some residual caramel
flavors.

Candy sugar

Sugar with extremely fine grain size making it
textured cakes and meringues, as well as for sweetening fruits and
iced-drinks since it dissolves easil

Castor sugar
(or caster sugar)

Finely crystallized refined sugar. Chinese sugar

Lightly colored granulated sugar with added flavoring. Cinnamon sugar

Large crystals of granulated sugar. Coarse sugar

Large grained, sparkling, brown
developed to bring out the true flavor of coffee beans

Coffee sugar
Equimolar mixture of glucose & fructose in liquid form. It absorbs
moisture very fast
soluble in water and alcohol, and caramelizes fast

Invert sugar

Golden brown sugar crystals rolling with the
sugarcane molasses.
ideal for hot and cold beverages, sprinkling on cereals, or as a topping
on cakes and cookies

Demerara sugar
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DESCRIPTION
-fine, fine-grained sugar with uniform grain size, gives perfect
shine & texture on baking. As its name suggests, it has been developed
specially for the baking industry.
Rich brown sugar having a nutty, caramel flavor, natural moistness,
subtle molasses aroma. Nutritious substitute for table sugar
Granulated sugar melted to 185 deg C. No unique flavor or color
characteristics. If heated to 200 deg C, it caramelizes
Light to dark brown sugar - with color & properties depending on
inherent molasses content. Its natural moistness and deep, rich aroma
makes it ideal for full-flavored recipes.
Produced by slow crystallization of a concentrated sugar solution, this
sugar is commonly used in Belgium beers. It comes in several colors
light to dark. When added to beer, it thins out the high gravity beers
and contributes color and, for the dark version, some residual caramel
flavors.
Produced by slow crystallization of a concentrated sugar
sugar is commonly used in Belgium beers. It comes in several colors
light to dark. When added to beer, it thins out the high gravity beers
and contributes color and, for the dark version, some residual caramel
flavors.
ar with extremely fine grain size making it ideal for extra fine
textured cakes and meringues, as well as for sweetening fruits and
drinks since it dissolves easily.
Finely crystallized refined sugar.
Lightly colored granulated sugar with added flavoring.
Large crystals of granulated sugar.
Large grained, sparkling, brown-colored sugar crystals specially
developed to bring out the true flavor of coffee beans
Equimolar mixture of glucose & fructose in liquid form. It absorbs
moisture very fast, is about 25% sweeter than normal sugar
soluble in water and alcohol, and caramelizes fast
Golden brown sugar crystals rolling with the rich aroma of tropical
sugarcane molasses. Its distinctive flavor and crunchy texture makes it
ideal for hot and cold beverages, sprinkling on cereals, or as a topping
on cakes and cookies
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grained sugar with uniform grain size, gives perfect
has been developed
Rich brown sugar having a nutty, caramel flavor, natural moistness,
subtle molasses aroma. Nutritious substitute for table sugar
No unique flavor or color
it caramelizes.
erties depending on
inherent molasses content. Its natural moistness and deep, rich aroma
Produced by slow crystallization of a concentrated sugar solution, this
ers. It comes in several colors -
light to dark. When added to beer, it thins out the high gravity beers
and contributes color and, for the dark version, some residual caramel
Produced by slow crystallization of a concentrated sugar solution, this
sugar is commonly used in Belgium beers. It comes in several colors -
light to dark. When added to beer, it thins out the high gravity beers
and contributes color and, for the dark version, some residual caramel
ideal for extra fine
textured cakes and meringues, as well as for sweetening fruits and
Lightly colored granulated sugar with added flavoring.
colored sugar crystals specially
developed to bring out the true flavor of coffee beans
Equimolar mixture of glucose & fructose in liquid form. It absorbs
sweeter than normal sugar, is highly
rich aroma of tropical
Its distinctive flavor and crunchy texture makes it
ideal for hot and cold beverages, sprinkling on cereals, or as a topping
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Introduction


Sugar

Sugar, or sucrose, is a carbohydrate that
occurs naturally in every
the plant kingdom.
It is a major product of Photosynthesis, the
process by which plants transform the sun’s
energy into food.
Sugar occurs in greatest quantities in
sugarcane and sugar beets
separated for commercial use.
Table sugar (sucrose) comes from plant
sources.

In non-scientific use

The term sugar refers to
"table sugar" or "saccharine")
a white Crystalline Solid Disac
Commercially produced table sugar comes
either from Sugar Cane or from Sugar Beet.

Scientifically sugar refers

To any Monosaccharide or Disaccharide.
Monosaccharide (also called "simple sugars")
such as glucose, store chemical energy which
biological cells convert to other types of energy.

The word "sugar" principally refers to
crystalline sugars, two
crops predominate:

Sugarcane

Sugar beets


Difference between sugar produced from sugar beets and sugar
produced from sugarcane?

There is no difference in the sugar produced from either cane or beet.
Sugarcane, a giant grass, thrives in a warm, moist climate, storing sugar
in its stalk.
The sugar beet grows best in a temperate climate and stores
its white root.
Sugar from both sources is produced by nature
green plants produce sugar

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ugar, or sucrose, is a carbohydrate that
fruit and vegetable in
Photosynthesis, the
process by which plants transform the sun’s
Sugar occurs in greatest quantities in
sugarcane and sugar beets from which it is
separated for commercial use.
Table sugar (sucrose) comes from plant
Sucrose (Also called
"table sugar" or "saccharine")
Crystalline Solid Disaccharide.
Commercially produced table sugar comes
Sugar Cane or from Sugar Beet.
Scientifically sugar refers
Monosaccharide or Disaccharide.
Monosaccharide (also called "simple sugars")
such as glucose, store chemical energy which
ological cells convert to other types of energy.
The word "sugar" principally refers to
, two important sugar
Difference between sugar produced from sugar beets and sugar
arcane?
There is no difference in the sugar produced from either cane or beet.
Sugarcane, a giant grass, thrives in a warm, moist climate, storing sugar
The sugar beet grows best in a temperate climate and stores
Sugar from both sources is produced by nature in the same fashion as all
green plants produce sugar - as a means of storing the sun’s energy.

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Difference between sugar produced from sugar beets and sugar
There is no difference in the sugar produced from either cane or beet.
Sugarcane, a giant grass, thrives in a warm, moist climate, storing sugar
The sugar beet grows best in a temperate climate and stores its sugar in
in the same fashion as all
as a means of storing the sun’s energy.
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Sugar Cane


The plants are slow growing and require approximately
months to ripen.
Once cut, sugarcane
(actually within hours of being harvested) thus it must be
processed immediately after cutting.
Sugarcane belongs to the genues saccharum, tribe
Andropogoneae, and family poaceae (Graminea).
Sugar cane is really a type of
When it is fully grown, it can be as tall as four or five
Like all grasses, sugar cane has green leaves, a stalk and roots to collect
sunlight, moisture and carbon dioxide which it uses to make its own food

Sugar cane grows best
thrives on a combination of bright
rainfall and fertile soil.
New cane is grown from pieces of cane stalk,
Called setts, which are laid lengthwise in furrows which
have been cut in
As the young cane grows, the land around it is cultivated
to control weeds and let air and water into the soil.
In moist, warm conditions, the cane grows quickly.
It is usually ready to harvest in
Mature cane stands
June and December in the Southern Hemisphere, when its sugar content is
at its highest.
When the first cane is harvested, the stumps are left in
canes grow from the stumps.
Two or three more crops can be produc
These are called ratoon crops.
Most cane sugar comes from countries with warm climates, such as Brazil, India,
China, Thailand, Mexico, and Australia, the top sugar producing countries
in the world.

Growing the Cane

Sugar cane is a sub-tropical and tropical crop that prefers lots of sun
and lots of water - provided that its roots are not waterlogged. It
typically takes about 12 months to reach maturity although the time
varies widely around the world from as short as six months in Louisiana
to 24 months in some places
Where it differs from many crops is that it re
the plant lasts many cycles [or 'ratoons', a word derived from the
Spanish to sprout] before it is worn out.

Harvesting

Sugar cane is harvested by chopping down the stems but leaving the
roots so that it re-grows in time for the next crop. Harvest times tend
to be during the dry season and the length of the harvest ranges from
as little as 2 ½ months up to
factory: often by truck or rail wagon but sometimes
on a cart pulled by a bullock or a donkey!

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The plants are slow growing and require approximately 16

Once cut, sugarcane can start to deteriorate quickly
(actually within hours of being harvested) thus it must be
processed immediately after cutting.
Sugarcane belongs to the genues saccharum, tribe
Andropogoneae, and family poaceae (Graminea).
Sugar cane is really a type of giant grass.
When it is fully grown, it can be as tall as four or five meters
Like all grasses, sugar cane has green leaves, a stalk and roots to collect
sunlight, moisture and carbon dioxide which it uses to make its own food
Sugar cane grows best in tropical countries where it
thrives on a combination of bright sunlight, heat, heavy
rainfall and fertile soil.
New cane is grown from pieces of cane stalk,
setts, which are laid lengthwise in furrows which
have been cut in the field.
the young cane grows, the land around it is cultivated
to control weeds and let air and water into the soil.
In moist, warm conditions, the cane grows quickly.
It is usually ready to harvest in 10 to 18 months.
Mature cane stands 2 to 4 metres high and is usually harvested between
June and December in the Southern Hemisphere, when its sugar content is
When the first cane is harvested, the stumps are left in the ground. New
canes grow from the stumps.
Two or three more crops can be produced this way.
These are called ratoon crops.
Most cane sugar comes from countries with warm climates, such as Brazil, India,
China, Thailand, Mexico, and Australia, the top sugar producing countries
pical and tropical crop that prefers lots of sun
provided that its roots are not waterlogged. It
months to reach maturity although the time
varies widely around the world from as short as six months in Louisiana
months in some places.
Where it differs from many crops is that it re-grows from the roots so
the plant lasts many cycles [or 'ratoons', a word derived from the
Spanish to sprout] before it is worn out.

ugar cane is harvested by chopping down the stems but leaving the
grows in time for the next crop. Harvest times tend
to be during the dry season and the length of the harvest ranges from
½ months up to 11 months. The cane is taken to the
truck or rail wagon but sometimes
on a cart pulled by a bullock or a donkey!
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meters.
Like all grasses, sugar cane has green leaves, a stalk and roots to collect
sunlight, moisture and carbon dioxide which it uses to make its own food.
is usually harvested between
June and December in the Southern Hemisphere, when its sugar content is
the ground. New
Most cane sugar comes from countries with warm climates, such as Brazil, India,
China, Thailand, Mexico, and Australia, the top sugar producing countries
pical and tropical crop that prefers lots of sun
months to reach maturity although the time
varies widely around the world from as short as six months in Louisiana
grows from the roots so
ugar cane is harvested by chopping down the stems but leaving the
grows in time for the next crop. Harvest times tend
to be during the dry season and the length of the harvest ranges from

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Sugar beet
Beet sugar comes from regions with
Northwest and eastern Europe,
areas in the United States (including
Cuba, the EU, Australia, Thailand, Brazil, Ukraine
(sugarbeets) and China are the largest exporters.
In the Northern Hemisphere, the beet
with the start of harvesting around September.

Harvesting

In the growing and harvesting of sugar beet, timing is
critical.

The harvesting period, known as the 'campaign' amongst
farmers, takes place between September and Christmas
when the amount of sugar in

Begins the middle of September and continues until
Completed, usually by mid
Sugar beet was harvested at five different times
155, 171 & 187 days after emergence
Sugar beet provides more than one
in United States and about
Production in the world.


Top Ten Countries by Sugar Beet Production

According to the Food and Agricultural Organization of the United Nations, in
2007 the United States produced
enough to make the United States
first, producing 32,338,000


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regions with coole climates:
ern Europe, northern Japan, plus some
areas in the United States (including California).
Cuba, the EU, Australia, Thailand, Brazil, Ukraine
(sugarbeets) and China are the largest exporters.
In the Northern Hemisphere, the beet-growing season ends
start of harvesting around September.
In the growing and harvesting of sugar beet, timing is
The harvesting period, known as the 'campaign' amongst
farmers, takes place between September and Christmas
when the amount of sugar in the beet is at its highest.
Begins the middle of September and continues until
Completed, usually by mid-November.
Sugar beet was harvested at five different times (123, 139,
days after emergence).
Sugar beet provides more than one- half of sugar produced
States and about 40% of sugar

Top Ten Countries by Sugar Beet Production 2008






According to the Food and Agricultural Organization of the United Nations, in
the United States produced 31,912,000 tonnes of sugar beets
enough to make the United States Ranks Second in that category. France ranked
32,338,000 tonnes.
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According to the Food and Agricultural Organization of the United Nations, in
tonnes of sugar beets, which was
in that category. France ranked
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Ethanol from Sugar

More than half of world ethanol production is produced
from sugar and sugar byproducts, with Brazil being by
far the world leader.
Currently, there is no commercial production of
ethanol from sugarcane or sugar beets in the United
States, where 97 percent of ethanol is produced from corn

Technologically, the process of producing ethanol from sugar is simpler than
converting corn into ethanol. Converting corn into ethanol requires additional
cooking and the application of enzymes, whereas the conversion of sugar requires
only a yeast fermentation process. The energy requirement for converting sugar
into ethanol is about half that for


Factors impacting sugar to ethanol viability

Corn is currently the least
ethanol production. Ethanol from sugarcane or sugar
beet feedstocks costs twice as much.
USDA’s recent sugar/ethanol report provides these
comparative production costs.
High oil prices have spurred interest in ethanol, to put
it mildly.
But for how long? (Prices were dropping at press
deadline in September.)
With ethanol prices hovering near
summer, the USDA report concludes t
profitable to produce ethanol from sugar and sugar
byproducts.
However, if ethanol prices were to drop below
gallon, it would not be profitable to use raw or refined sugar as a feedstock.
Based on current futures prices, the price


The EU convert refined sugar to ethanol

Production and consumption

Europe’s fuel ethanol sector was a slow starter.
It took almost 10 years to grow production from
in 1993 to 525 million litre
In the following two years we saw a true explosion in production.
In 2005 and 2006 there were double
70%.
After a moderate growth in
13% compared to the previous year
spike in 2008.
Last year, total EU bioethanol production significantly
increased by 56%, from 1.8
in 2008.

Compared to the U.S.A. and Brazil, but also to the
European biodiesel sector, the EU fuel alcohol sect
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More than half of world ethanol production is produced
from sugar and sugar byproducts, with Brazil being by
Currently, there is no commercial production of
ethanol from sugarcane or sugar beets in the United
percent of ethanol is produced from corn
Technologically, the process of producing ethanol from sugar is simpler than
to ethanol. Converting corn into ethanol requires additional
cooking and the application of enzymes, whereas the conversion of sugar requires
only a yeast fermentation process. The energy requirement for converting sugar
into ethanol is about half that for corn.
sugar to ethanol viability
Corn is currently the least-cost feedstock available for
ethanol production. Ethanol from sugarcane or sugar
beet feedstocks costs twice as much.
USDA’s recent sugar/ethanol report provides these
mparative production costs.
High oil prices have spurred interest in ethanol, to put
But for how long? (Prices were dropping at press

With ethanol prices hovering near $4 a gallon this
summer, the USDA report concludes that it would be
profitable to produce ethanol from sugar and sugar
if ethanol prices were to drop below $2.35 a
gallon, it would not be profitable to use raw or refined sugar as a feedstock.
Based on current futures prices, the price of ethanol is expected to drop.
refined sugar to ethanol Market
Production and consumption
Europe’s fuel ethanol sector was a slow starter.
years to grow production from 60 million litres
million litres in 2004.
In the following two years we saw a true explosion in production.
there were double-digit growth levels of over
After a moderate growth in 2007, when production increased by
compared to the previous year, figures reached another
Last year, total EU bioethanol production significantly
1.8 billion in 2007 to 2.8 billion
Compared to the U.S.A. and Brazil, but also to the
European biodiesel sector, the EU fuel alcohol sector is
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Technologically, the process of producing ethanol from sugar is simpler than
to ethanol. Converting corn into ethanol requires additional
cooking and the application of enzymes, whereas the conversion of sugar requires
only a yeast fermentation process. The energy requirement for converting sugar
gallon, it would not be profitable to use raw or refined sugar as a feedstock.
of ethanol is expected to drop.
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The Egyptian Center for Studies of Export & Import
rather small. The USA nowadays produces every month
more than the EU produce in a year. Moreover, the EU
biofuel market is still predominantly a biodiesel market
(80%).

The top 4 EU producers of ethanol are France
Spain and Poland, followed by Sweden and the UK. The
top 6 consumers are France
Poland and the Netherlands
year in terms of imports. Total imports of bioethanol (fuel and non
estimated to have reached
compared to 2007. Thereof
only.
Approximately 50% of total imports have been used for the fuel sector
(approximately 1.1 billion litres

Production capacity

The EU production capacity is steadily increasing. At present, the installed
capacity amounts to 6.1 billion litres
construction is 2.4 billion litres

Use of raw material

In 2007 the preferred raw material was grain and, more in particular, wheat. A
relatively big part is still covered by sugar beet (molasses) and a smaller share is
produced from raw alcohol
shift (mainly in Germany)

If we look at the bigger picture of grain use in the EU it becomes immediately
clear that bioethanol production is only a marginal consumer of grain.

Almost 69% of Europe’s cereals go to the animal feed sector whereas
approximately only 2% of all cereals is destined for the bioethanol
Of this extremely small share about one third goes back to the animal feed sector
as a high protein animal feed called DDGS.
This by-product replaces imported soya meal
BRAZILIAN SUGAR
Brazilian sugar is the most plentiful sugar in the
world, due to the fact that Brazil is the largest
producer of sugar in the world.

Every year Brazil produces up to thirty million tons
of sugar, much of which is sold offshore.

The majority of Brazilian sugar is
which is almost always produced for export and
subsequent refining in other countries.

A smaller amount of ICUMSA
consumption and international export.
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rather small. The USA nowadays produces every month
more than the EU produce in a year. Moreover, the EU
biofuel market is still predominantly a biodiesel market
EU producers of ethanol are France, Germany,
wed by Sweden and the UK. The
consumers are France, Germany, Sweden, the UK,
Poland and the Netherlands. 2008 was also a record
year in terms of imports. Total imports of bioethanol (fuel and non-
estimated to have reached 1.9 billion litres in 2008, increasing by 400
Thereof, between 1.4 and 1.5 billion litres came from Brazil
of total imports have been used for the fuel sector
billion litres). This equals 39% of total EU production.

The EU production capacity is steadily increasing. At present, the installed
billion litres, while production capacity under
billion litres.

preferred raw material was grain and, more in particular, wheat. A
relatively big part is still covered by sugar beet (molasses) and a smaller share is
produced from raw alcohol. In 2008, due to higher grain prices, we have seen a
shift (mainly in Germany) to sugar beet juice.
If we look at the bigger picture of grain use in the EU it becomes immediately
clear that bioethanol production is only a marginal consumer of grain.
of Europe’s cereals go to the animal feed sector whereas
of all cereals is destined for the bioethanol.
Of this extremely small share about one third goes back to the animal feed sector
as a high protein animal feed called DDGS.
product replaces imported soya meal.

sugar is the most plentiful sugar in the
world, due to the fact that Brazil is the largest
producer of sugar in the world.
Every year Brazil produces up to thirty million tons
of sugar, much of which is sold offshore.
The majority of Brazilian sugar is VHP raw sugar,
which is almost always produced for export and
subsequent refining in other countries.
A smaller amount of ICUMSA 45 sugar is also produced both for local
consumption and international export.
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-fuel) are
400 million
billion litres came from Brazil
of total imports have been used for the fuel sector
production.
The EU production capacity is steadily increasing. At present, the installed
production capacity under
preferred raw material was grain and, more in particular, wheat. A
relatively big part is still covered by sugar beet (molasses) and a smaller share is
we have seen a
If we look at the bigger picture of grain use in the EU it becomes immediately
clear that bioethanol production is only a marginal consumer of grain.
of Europe’s cereals go to the animal feed sector whereas
.
Of this extremely small share about one third goes back to the animal feed sector
sugar is also produced both for local
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Brazilian sugar exports make up
sugar exports, which explains how Brazilian sugar
comes to be found in baked goods, drinks, and other
foodstuffs the world over.

Producing Brazilian Sugar

Brazilian sugar is grown largely
of Brazil.
The majority of Brazil’s sugarcane is produced in the
southern portion of the country.
northeast Brazil.
The State of São Paulo (map
Brazil’s sugar and accounts for
sugar exports.
In the south, sugarcane production occurs between
May and November.
In the northeast production occurs between September
and March.

The first sugar plantations and mills were founded in
these states by the Dutch, who used slave labor to
plant, harvest, mill and process sug

Today there are still numerous sugar plantations and
mills in this region in spite of the fact that it is
considerably less fertile than the Sao Paulo region, not
to mention harder to harvest due to hilly terrain.

All sugar produced in Brazil is produced from sugar
cane,
of which there are many varieties.

Types of Brazilian Sugar for Export

Brazil exports large amounts of VHP raw sugar, in fact VHP makes up the bulk of
Brazilian exports.
VHP is very high pol sugar, a term that
sugar has a high sucrose level.
VHP sugar is 99.4% sucrose
VHP sugar quickly became the world’s most popular
Unlike other forms of raw sugar, VHP contains relatively
contaminants and is easier and quicker to refine than
raw sugar.
Aside from VHP sugar, Brazil also exports refined
sugars from ICUMSA 150
Large quantities of ICUMSA
rare, as Brazil has largely based its sugar export
industry on the export of raw sugar which is then
refined in the destination country at the buyer’s
expense.



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Brazilian sugar exports make up 40% of total global
sugar exports, which explains how Brazilian sugar
comes to be found in baked goods, drinks, and other
foodstuffs the world over.
Brazilian Sugar
Brazilian sugar is grown largely in the Sao Paulo region
zil’s sugarcane is produced in the
southern portion of the country. It is also produced in
map) produces 60 percent of
Brazil’s sugar and accounts for 70 percent of Brazilian
ane production occurs between
In the northeast production occurs between September
The first sugar plantations and mills were founded in
these states by the Dutch, who used slave labor to
plant, harvest, mill and process sugar cane into sugar.
Today there are still numerous sugar plantations and
mills in this region in spite of the fact that it is
considerably less fertile than the Sao Paulo region, not
to mention harder to harvest due to hilly terrain.
in Brazil is produced from sugar
of which there are many varieties.
Types of Brazilian Sugar for Export
Brazil exports large amounts of VHP raw sugar, in fact VHP makes up the bulk of
VHP is very high pol sugar, a term that means that the
sugar has a high sucrose level.
sucrose. Invented by Brazilians in
VHP sugar quickly became the world’s most popular
Unlike other forms of raw sugar, VHP contains relatively
ier and quicker to refine than
Aside from VHP sugar, Brazil also exports refined
150 to ICUMSA 45.
Large quantities of ICUMSA 45 especially are relatively
rare, as Brazil has largely based its sugar export
y on the export of raw sugar which is then
refined in the destination country at the buyer’s
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Brazil exports large amounts of VHP raw sugar, in fact VHP makes up the bulk of
1993,
sugar export.
few
traditional
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Brazilian Ethanol Production

Brazil is the world’s number two ethanol
producer and the leading ethanol exporter,
using sugarcane as its feedstock

Brazilian Sugar and Ethanol Industry

During the 2007/2008 harvest
record amount of 496 million tons of sugarcane
and produced 31 million tons of sugar and
million cubic meters of ethanol. Around two
of the sugar produced in Br
was exported, with raw sugar accounting for
more than 65% of foreign sales







Source: GAIN report BR8013
Service, 2008.
U.S. and Brazilian Ethanol Comparison

The United States and Brazil are the two largest ethanol producers in
the world Together they account for almost 90 percent of world
production.


U
Brazil
European
Union
China
Canada
Other
Total
Source: Renewable Fuels Association

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Brazilian Ethanol Production
Brazil is the world’s number two ethanol
producer and the leading ethanol exporter,
using sugarcane as its feedstock
razilian Sugar and Ethanol Industry
harvest, Brazil crushed a
million tons of sugarcane
million tons of sugar and 22.5
million cubic meters of ethanol. Around two-thirds
of the sugar produced in Brazil (18.6 million tons)
was exported, with raw sugar accounting for
of foreign sales.
8013, USDA Foreign Agricultural
U.S. and Brazilian Ethanol Comparison
The United States and Brazil are the two largest ethanol producers in
the world Together they account for almost 90 percent of world
Country Million
Gallons
USA 6,499
Brazil 5,019
European
Union
570
China 486
Canada 211
Other 316
Total 13,102
Source: Renewable Fuels Association
Year * Million
Gallons
2003/04 3,910
2004/05 4,068
2005/06 4,174
2006/07 4,719
2007/08 5,916
2008/09** 7,054
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The Egyptian Center for Studies of Export & Import
International Sugar Organization (ISO)

The ISO provides a forum for inter
sugar issues including ways of improving the world sugar economy. Its
primary objective is to ensure enhanced international cooperation in
connection with world sugar matters. It also provides extensive
information on the world sugar market and

The ISO is based in London
(based on data for 2007):

• 82% of world sugar production
• 66% of world sugar consumption
• 93% of world exports
• 38% of world imports

The ISO exists to administer th
Sugar Agreement (ISA), the objectives of which are:

• To ensure enhanced international cooperation in connection with world
sugar matters and related issues.
• To provide a forum for intergovernmental consultat
ways to improve the world sugar economy.
• To facilitate trade by collecting and providing information on the world
sugar market and other sweeteners.
• To encourage increased demand for sugar, particularly for non
uses.

The Global Alliance for Sugar Trade Reform and

The Global Alliance for Sugar Trade Reform and Liberalization
brings together 85% of the world raw cane exports
Sugar Alliance members (Australia, Brazil, Canada, Chile,
Colombia, India, Guatemala, South Africa and Thailand) are active
advocates to improve the world sugar trading environment.
Members work closely together to ensure the fair and equal
treatment of sugar and ethanol in the WTO negotiations on
agriculture so that market
The Global Alliance for Sugar Trade Reform and Liberalization was established
during in November 1999

The world’s sugarcane producers have the potential to contribute significantly to
the solution of two current global challenges:
• Climate change and
• Trade liberalization.
This was the focus of the declaration signed by the Global Alliance for Sugar
Trade Reform & Liberalization
in São Paulo, Brazil to discuss matters of relevance to t
market. The Alliance represents over
been an active voice in the World Trade Organization’s (WTO) Doha Round
negotiations.




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International Sugar Organization (ISO)
The ISO provides a forum for inter-Governmental consultations on key
sugar issues including ways of improving the world sugar economy. Its
primary objective is to ensure enhanced international cooperation in
connection with world sugar matters. It also provides extensive
information on the world sugar market and other sweeteners
The ISO is based in London, the 84 member states of the ISO represent
):
of world sugar production
of world sugar consumption
of world exports
of world imports
The ISO exists to administer the internationally negotiated 1992 International
Sugar Agreement (ISA), the objectives of which are:
To ensure enhanced international cooperation in connection with world
sugar matters and related issues.
To provide a forum for intergovernmental consultations on sugar and on
ways to improve the world sugar economy.
To facilitate trade by collecting and providing information on the world
sugar market and other sweeteners.
To encourage increased demand for sugar, particularly for non
he Global Alliance for Sugar Trade Reform and Liberalization
The Global Alliance for Sugar Trade Reform and Liberalization
of the world raw cane exports. The Global
Sugar Alliance members (Australia, Brazil, Canada, Chile,
dia, Guatemala, South Africa and Thailand) are active
advocates to improve the world sugar trading environment.
closely together to ensure the fair and equal
treatment of sugar and ethanol in the WTO negotiations on
agriculture so that markets are allowed to work.
The Global Alliance for Sugar Trade Reform and Liberalization was established
1999.
The world’s sugarcane producers have the potential to contribute significantly to
the solution of two current global challenges:
change and
liberalization.
This was the focus of the declaration signed by the Global Alliance for Sugar
Liberalization, whose members met on Wednesday
in São Paulo, Brazil to discuss matters of relevance to the international sugarcane
The Alliance represents over 85% of world raw sugar exports and has
been an active voice in the World Trade Organization’s (WTO) Doha Round
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ions on key
sugar issues including ways of improving the world sugar economy. Its
primary objective is to ensure enhanced international cooperation in
member states of the ISO represent
International
To ensure enhanced international cooperation in connection with world
ions on sugar and on
To facilitate trade by collecting and providing information on the world
To encourage increased demand for sugar, particularly for non-traditional
Liberalization
The Global Alliance for Sugar Trade Reform and Liberalization was established
The world’s sugarcane producers have the potential to contribute significantly to
This was the focus of the declaration signed by the Global Alliance for Sugar
whose members met on Wednesday (Oct.21/2009)
he international sugarcane
of world raw sugar exports and has
been an active voice in the World Trade Organization’s (WTO) Doha Round
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World Food Price Inflation in

FAO Report

The upturn in international food prices that began in
2006 escalated into a surge of food price inflation
around the world, increasing food insecurity, leading
to violent protests and even raising fears about
international security.

Africa was perhaps hardest hit,
global. Reports of the impact of high food
the poor across many developing
calls for international action
towards increased
poverty and malnutrition.

Food aid agencies such as the World
(WFP) encountered difficulties in meeting the
costs of purchasing food for
for additional funds.

The FAO food price index
and 27 percent in 2007, and that increase persisted
and accelerated in the first half of
Since then, prices have fallen steadily but
their longer-term trend levels.

For 2008, the FAO food price index
percent above 2007 and

Looking at prices in real terms (deflated
Bank’s Manufactures Unit
increases are still significant.

Real prices have shown a
trend punctuated by typically short

There is some suggestion of a
1980s with a gradual recovery beginning in
the sharp increase in 2006
growth rate of 1.3 percent
jumped to 15 percent since

Prices are commonly expressed in
depreciation in the value of the
cost
of commodities for countries whose currencies are
stronger than the US dollar, resulting in a
of food price increases to a
However, for countries wh
the US dollar, depreciation in the US dollar
More than 30 developing countries peg their

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World Food Price Inflation in 2007/2008
in international food prices that began in
surge of food price inflation
around the world, increasing food insecurity, leading
to violent protests and even raising fears about
perhaps hardest hit, but the problem was
global. Reports of the impact of high food prices on
the poor across many developing countries led to
calls for international action to reverse the slide
poverty and malnutrition.
such as the World Food Programme
encountered difficulties in meeting the higher
costs of purchasing food for distribution and appealed
The FAO food price index1 rose by 7 percent in 2006
and that increase persisted
ccelerated in the first half of 2008.
then, prices have fallen steadily but remain above
levels.
the FAO food price index still averaged 24
57 percent above 2006.
l terms (deflated by the World
Bank’s Manufactures Unit Value Index [MUV]), the
significant.
Real prices have shown a steady long-run downward
punctuated by typically short-lived price spikes.
There is some suggestion of a flattening out since the late
gradual recovery beginning in 2000 before
2006 – the average annual
percent for the period 2000–05 has
percent since 2006.
are commonly expressed in US dollars;
depreciation in the value of the US dollar reduces the
for countries whose currencies are
stronger than the US dollar, resulting in a cushioning
of food price increases to a greater or lesser extent.
countries whose local currencies are pegged to or are weaker than
US dollar, depreciation in the US dollar increases the cost of procuring food.
developing countries peg their currency to the US dollar.
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pegged to or are weaker than
increases the cost of procuring food.
currency to the US dollar.
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Did the prices of all agricultural commodi

While almost all agricultural product
The rate of increase varied significantly
In particular, international prices of basic
dairy products, increased far more dramatically
products, such as coffee and cocoa, and raw materials,

Therefore, developing countries dependent on
found that while their export earnings might have
slower rate than the cost of their food imports.
As many developing countries are net food
balance of payments problem.

What was different about

The leap in food prices was in sharp
and the prolonged slump in commodity
prompted calls for the revival of
For some analysts, the increases
agricultural commodity prices, with
end of cheap food”.

Others saw the beginnings of a potential world food crisis.

It is an interesting question whether these
different from earlier price spikes and
prices could have come to a halt,
agricultural commodity market behaviour.

High-price events, like low
markets, although high prices often tend
prices, which persist for longer periods.
What has distinguished this episode was
prices of not just a few but of nearly all major food
possibility that the prices may remain high after the
dissipate.

The price boom was also accompanied by much higher price volat
than in the past, especially in the cereals and oilseeds sectors,
highlighting the greater

In the first four months of
record highs (volatility in wheat prices was tw
while rice price volatility was five times higher).
The increase in volatility was not confined to
products and sugar all witnessed much
past.
High volatility means uncertainty, which
and sellers.
Greater uncertainty limits
and tends to result in the
expense of innovation and entrepreneurship.
In addition, the wider and more unpredictable the price
are, the greater is the possibility of realizing large gains by
price movements of that commodity.
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Did the prices of all agricultural commodities increase in the same way?
While almost all agricultural product prices increased at least in nominal terms,
rate of increase varied significantly from one commodity to another.
particular, international prices of basic foods, such as cereals, oilseeds and
products, increased far more dramatically than the prices of tropical
as coffee and cocoa, and raw materials, such as cotton or rubber.
developing countries dependent on exports of these latter products
while their export earnings might have been increasing this was at a
than the cost of their food imports.
many developing countries are net food importers, this imposed a serious
of payments problem.
What was different about the 2007–08 food price increases?
The leap in food prices was in sharp contrast to the secular downward trend
and the prolonged slump in commodity prices from 1995 to 2002, which even
prompted calls for the revival of international commodity agreements.
or some analysts, the increases signaled the end of the long-term decline in real
agricultural commodity prices, with The Economist (2007) announcing “the
Others saw the beginnings of a potential world food crisis.
ng question whether these sharp increases are fundamentally
different from earlier price spikes and whether the long-term decline in real
prices could have come to a halt, signalling a fundamental change in
agricultural commodity market behaviour.
ice events, like low-price events, are not rare occurrences in agricultural
markets, although high prices often tend to be short-lived compared with low
prices, which persist for longer periods.
What has distinguished this episode was the concurrence of the hike in world
of not just a few but of nearly all major food and feed commodities and the
that the prices may remain high after the effects of short
The price boom was also accompanied by much higher price volat
past, especially in the cereals and oilseeds sectors,
highlighting the greater uncertainty in the markets.
months of 2008, volatility in wheat and rice prices approached
(volatility in wheat prices was twice the level of the previous year
volatility was five times higher).
increase in volatility was not confined to cereals – vegetable oils, livestock
products and sugar all witnessed much larger price swings than in the recent
gh volatility means uncertainty, which complicates decision-making for buyers
Greater uncertainty limits opportunities for producers to access credit markets
and tends to result in the adoption of low-risk production technologies at the
and entrepreneurship.
wider and more unpredictable the price changes in a commodity
the possibility of realizing large gains by speculating on future
that commodity.
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ties increase in the same way?
prices increased at least in nominal terms,
from one commodity to another.
oilseeds and
than the prices of tropical
such as cotton or rubber.
exports of these latter products
been increasing this was at a
importers, this imposed a serious
?
contrast to the secular downward trend
which even
international commodity agreements.
term decline in real
announcing “the
sharp increases are fundamentally
term decline in real
signalling a fundamental change in
are not rare occurrences in agricultural
lived compared with low
e hike in world
and feed commodities and the
effects of short-term shocks
The price boom was also accompanied by much higher price volatility2
past, especially in the cereals and oilseeds sectors,
rice prices approached
level of the previous year
vegetable oils, livestock
larger price swings than in the recent
making for buyers
credit markets
technologies at the
changes in a commodity
speculating on future
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Annual food prices, in nominal and real US

Thus, volatility can attract significant speculative activity,
initiate a vicious cycle of
At the national level, many developing countries are still
primary commodities, either in their exports or
While sharp price spikes can be a
economy, they can also heighten the cost
inputs.
At the same time, large fluctu
real exchange rates of countries, putting a severe strain on
hampering their efforts to reduce poverty.

The end of “cheap food”?

Soaring food prices came as a shock
world had become accustomed to the
Up until 2006, the real cost of the global food
half in the previous 30 years
2–3 percent per year in real terms
Technological advances greatly reduced
Together with widespread subsidies in
Economic Co-operation and
Efficient and cheaper production
Role of a few countries in supplying the

This supply-driven agricultural paradigm sent real prices
trend lasting for decades.
Added to this, changes in the
Instrumental in reducing stock levels and
dependence on imports to meet food needs.
Put together, these developments have
exporting countries to supply international
Surprising that when production shortages
consecutive years, global supplies are
tightness is manifest in both
This was precisely the case in the run

Against this backdrop, the world’s
driven by rising global incomes and population and then
production, left major exporters with little opportunity to
Extreme price volatility for several
Prompting fears of a wide


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in nominal and real US$ terms, 1957
attract significant speculative activity, which in turn can
destabilizing cash prices.
level, many developing countries are still highly dependent on
commodities, either in their exports or imports.
While sharp price spikes can be a temporary boon to an exporter’s
economy, they can also heighten the cost of importing foodstuffs and agricultural
fluctuations in prices can have a destabilizing effect on
of countries, putting a severe strain on their economy and
to reduce poverty.
The end of “cheap food”?
Soaring food prices came as a shock partly because consumers throughout the
world had become accustomed to the notion of so-called “cheap food”.
the real cost of the global food basket had fallen by almost one
years, with prices of many foodstuffs falling on average by
percent per year in real terms.
Technological advances greatly reduced the cost of producing foodstuffs and this,
with widespread subsidies in countries of the Organization
operation and Development (OECD) that rendered more
and cheaper production elsewhere unprofitable, entrenched the
of a few countries in supplying the world with food.
agricultural paradigm sent real prices spiraling downward on a
decades.
hanges in the market and policy setting have been
in reducing stock levels and have led to far more planned
on imports to meet food needs.
together, these developments have resulted in a significant role for major
ntries to supply international markets as needed. Therefore, it is not
that when production shortages occur in such countries, particularly in
consecutive years, global supplies are stretched and the ensuing market
tightness is manifest in both higher prices and higher volatility.
the case in the run-up to the recent price surge.
Against this backdrop, the world’s growing demand for agricultural commodities,
incomes and population and then expansion i
exporters with little opportunity to replenish stocks.
Extreme price volatility for several commodities was another factor
fears of a wide-scale crisis.
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1957–2008
which in turn can
endent on

of importing foodstuffs and agricultural
destabilizing effect on
their economy and
umers throughout the
called “cheap food”.
basket had fallen by almost one-
many foodstuffs falling on average by
the cost of producing foodstuffs and this,
Organization for
Development (OECD) that rendered more
elsewhere unprofitable, entrenched the
downward on a

have led to far more planned
resulted in a significant role for major
markets as needed. Therefore, it is not
occur in such countries, particularly in
stretched and the ensuing market
surge.
commodities,
expansion in biofuel
replenish stocks.

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Sugar(World Production
Distribution)

PRODUCTION

World sugar production to decline by
tonnes in 2008/09.
FAO has revised its estimates for world sugar
production to 158.5 million tonnes in
which is 2.5 million below the first estimate
released in November
or 5.4 percent less than in
The revision was largely caused by a deterioration
of production prospects in India, where sugar
output is now estimated to have fallen by a drastic
45 percent.
The drop would ensue from a decline in planted
area, as many producers allocated land to
alternative, more remunerative, crops, such as
maize and soybeans.

World production and consumption of sugar



WORLD BALANCE
Production
Trade
Utilization
Ending stocks
SUPPLY AND DEMAND
INDICATORS
Per caput food consumption:
World kg/year
LIFDC kg/year
World stock-to-use
ratio
%



ISA Daily Price Average
(United States
cents/lb)
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Sugar(World Production - Supply and
World sugar production to decline by 9 million
FAO has revised its estimates for world sugar
million tonnes in 2008/09,
million below the first estimate
released in November 2008, and 9 million tonnes,
percent less than in 2007/08.
The revision was largely caused by a deterioration
of production prospects in India, where sugar
output is now estimated to have fallen by a drastic
The drop would ensue from a decline in planted
a, as many producers allocated land to
alternative, more remunerative, crops, such as

World production and consumption of sugar
2006/07
2007/08
estim
2008/09
f’cast
Change
over
million tonnes

166.1 167.6 158.5
46.7 47.3 50.2
154.0 158.4 162.2
73.3 80.9 76.3
SUPPLY AND DEMAND

Per caput food consumption:
kg/year 22.5 23.1 23.4
kg/year 12.9 13.4 13.7
% 47.6 51.1 47.0


2007 2008 2009*
Jan


Jan
ISA Daily Price Average

10.08 12.80 13.78
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Change: 2008/09
over 2007/08
%

-5.4
6.0
2.4
-5.7

1.3
1.8


Change:
Jan-May 2009
over
Jan-May 2008
%
8.8
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In addition to India, sugar production contracted in Australia, the
European Union, Pakistan and the United States, with relatively small
decreases foreseen in Thailand.

However, in the Latin America and Caribbean region, sugar production in
Brazil (October/September) is expe
2008/09, about 29 percent more than in
harvest time, which reduced yields.

Sugar-cane production is set to reach
corresponds to a 15 percent increase from las
12 percent expansion in cane planted area.

It is estimated that about
harvest will be processed into cane
returns from domestic ethanol relative to export ma

However, if international sugar prices continue to augment, providing no
upsurge in crude oil prices, the share of cane directed to sugar should be
expected to increase. Elsewhere in the region, sugar production in
Colombia is expected to increase
remain relatively unchanged in Argentina and decline slightly in Peru.













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sugar production contracted in Australia, the
European Union, Pakistan and the United States, with relatively small
decreases foreseen in Thailand.
However, in the Latin America and Caribbean region, sugar production in
Brazil (October/September) is expected to rise to 39.6 million tonnes in
percent more than in 2007/08, despite heavy rains at
harvest time, which reduced yields.
cane production is set to reach 566 million tonnes, which
percent increase from last year, on account of a
percent expansion in cane planted area.
It is estimated that about 60 percent of Brazil’s 2008/09 sugar
harvest will be processed into cane-based ethanol, buoyed by higher
returns from domestic ethanol relative to export markets.
However, if international sugar prices continue to augment, providing no
upsurge in crude oil prices, the share of cane directed to sugar should be
expected to increase. Elsewhere in the region, sugar production in
Colombia is expected to increase by 3 percent in 2008/09, while it should
remain relatively unchanged in Argentina and decline slightly in Peru.
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sugar production contracted in Australia, the
European Union, Pakistan and the United States, with relatively small
However, in the Latin America and Caribbean region, sugar production in
million tonnes in
despite heavy rains at
which
t year, on account of a
sugar-cane
based ethanol, buoyed by higher
However, if international sugar prices continue to augment, providing no
upsurge in crude oil prices, the share of cane directed to sugar should be
expected to increase. Elsewhere in the region, sugar production in
while it should
remain relatively unchanged in Argentina and decline slightly in Peru.
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The Egyptian Center for Studies of Export & Import

Industry structure and development


Brazil with consistent and considerable increase in cane production
continues to remain th
India is the second largest but with a chequered track record of wide
swings in year on year sugar production.
India however remains unchallenged as the top sugar consumer despite
low level of per capita consumption. Cane sugar
beet, trouncing the share of latter from

World sugar production during
decline due to decisive downfall in Indian production.

Accordingly world sugar balance w
The deficit would have loomed larger but for the relentless rise in
Brazilian cane production and usage of relatively larger share of cane
crop for sugar with concomitant decline in the share of ethanol.

Despite the economic recession world over, sugar consumption growth
was less impacted and remained positive. The supply
disequilibrium has been caused essentially by the strident slippage in
Indian production, exacerbated by the decline in EU and other Asian
countries.























Source: ISO

The correction after surging surplus for two years in a row has come as
good relief to sugar producers world over. Such tightness in supply is
sure to be witnessed during

Brazil’s share in world export is expected to overshoot the half way mark
to 53% this year as against
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Industry structure and development
Brazil with consistent and considerable increase in cane production
continues to remain the dominant sugar producer.
India is the second largest but with a chequered track record of wide
swings in year on year sugar production.
India however remains unchallenged as the top sugar consumer despite
low level of per capita consumption. Cane sugar has steadfastly displaced
trouncing the share of latter from 43.5% in the 1960s to
World sugar production during 2008-09 has displayed a discernible
decline due to decisive downfall in Indian production.
Accordingly world sugar balance would turn deficit by 7.8 mln tonnes
The deficit would have loomed larger but for the relentless rise in
Brazilian cane production and usage of relatively larger share of cane
crop for sugar with concomitant decline in the share of ethanol.
conomic recession world over, sugar consumption growth
was less impacted and remained positive. The supply-demand
disequilibrium has been caused essentially by the strident slippage in
Indian production, exacerbated by the decline in EU and other Asian
The correction after surging surplus for two years in a row has come as
good relief to sugar producers world over. Such tightness in supply is
sure to be witnessed during 2009-10 as well.
rld export is expected to overshoot the half way mark
this year as against 29% a decade ago.
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Brazil with consistent and considerable increase in cane production
India is the second largest but with a chequered track record of wide
India however remains unchallenged as the top sugar consumer despite
has steadfastly displaced
s to 20% now.
has displayed a discernible
mln tonnes.
The deficit would have loomed larger but for the relentless rise in
Brazilian cane production and usage of relatively larger share of cane
crop for sugar with concomitant decline in the share of ethanol.
conomic recession world over, sugar consumption growth
demand
disequilibrium has been caused essentially by the strident slippage in
Indian production, exacerbated by the decline in EU and other Asian
The correction after surging surplus for two years in a row has come as
good relief to sugar producers world over. Such tightness in supply is
rld export is expected to overshoot the half way mark
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The Egyptian Center for Studies of Export & Import

Sugar Futures and Options Trading
Located at ICE Futures U.S. in New York City,
the exchange is the premiere world market for
the trading of coffee, sug
and options. Three sugar futures contracts
(world raw, world refined, and domestic raw)
are listed at ICE. In 1982
launched the nation's first exchange
option on a futures contract when it introduced
options on world sugar futures

The Role of the Exchange

Since all futures and options contracts are
standardized (with delivery months and
locations, quantity and grade constant), only
price is negotiable.

These prices are determined by "open outcry"
trading on the exchange floor. The scene on the
trading floor resembles an auction of sorts, with
competing buyers and sellers shouting and
gesturing.

While this might appear chaotic to the casual
observer, the open outcry method assures that
each trade is openly and competitively executed.

With open outcry, all market participants are
afforded the opportunity to buy or sell at the best
available current price.

All trading activity is closely monitored by the
exchange according to guidelines established by
the CFTC. The exchange is committed to
maintaining markets of the highest quality.

To help fulfill this self-
Employs advanced technological systems to
perform a variety of surveillance and compliance
procedures.
ons Trading Sugar Opti
In 1982, the exchange introduced options on
world (#11) sugar futures
exchange -traded option on commodity futures.
Because options strategies are numerous and
can be tailored to meet a wide array of risk
profiles, time horizons an
hedgers and investors have increasingly realized
their vast potential.

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Sugar Futures and Options Trading

Located at ICE Futures U.S. in New York City,
the exchange is the premiere world market for
the trading of coffee, sugar and cocoa futures
and options. Three sugar futures contracts
(world raw, world refined, and domestic raw)
1982, the exchange
launched the nation's first exchange-traded
option on a futures contract when it introduced
orld sugar futures.
The Role of the Exchange
Since all futures and options contracts are
standardized (with delivery months and
locations, quantity and grade constant), only
These prices are determined by "open outcry"
he exchange floor. The scene on the
trading floor resembles an auction of sorts, with
competing buyers and sellers shouting and
While this might appear chaotic to the casual
observer, the open outcry method assures that
and competitively executed.
With open outcry, all market participants are
afforded the opportunity to buy or sell at the best
available current price.
All trading activity is closely monitored by the
exchange according to guidelines established by
FTC. The exchange is committed to
maintaining markets of the highest quality.
-regulatory mandate, ICE
advanced technological systems to
perform a variety of surveillance and compliance

ons
the exchange introduced options on
sugar futures - the nation's first
traded option on commodity futures.
Because options strategies are numerous and
can be tailored to meet a wide array of risk
profiles, time horizons and cost considerations,
hedgers and investors have increasingly realized
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The Egyptian Center for Studies of Export & Import
ISO World Sugar Market Review
In the third assessment of the ISO, world sugar
production is put at 161.527
A significant production shortfall in India and
contraction of production in the EU, on the one hand,
and a continuing expansion of sugar output in Brazil,
on the other hand, are the three major supply features
of 2008/09.

The combined effect of output reductions in the EU and
India is expected to shave off a massive
tonnes from world sugar supply, despite record high
growth in sugar output in Brazil. So far, a lowering in
forecasted production in India
projected in August to the current projection of
mln tonnes) has been neatly matched by a practically
identical increase in Brazil
37.54 mln tones).

Meanwhile, global consumption is forecasted to grow
at the rate of 2.19% to

World production is no
world consumption as against
Consequently, the statistical outlook for the market till the end of the
season in September 2009
market values.
The ISO puts world export availability for
raw value, as against 46.25

Smaller output in importing countries and in India, in particular, is
expected to trigger additio
49.621 mln tonnes, up

A summary of the third assessment of the world sugar balance in
2008/09 is provided in the table below



Production
Consumption
Surplus / Deficit
Import demand
Export availability
End Stocks
Stocks/Consumption ratio
in%
Source: ISO quarterly market outlook
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ISO World Sugar Market Review
In the third assessment of the ISO, world sugar
161.527 mln tonnes.
A significant production shortfall in India and a further
contraction of production in the EU, on the one hand,
and a continuing expansion of sugar output in Brazil,
on the other hand, are the three major supply features
The combined effect of output reductions in the EU and
ted to shave off a massive 7.084 mln
tonnes from world sugar supply, despite record high
growth in sugar output in Brazil. So far, a lowering in
forecasted production in India (from 23.9 mln tonnes
projected in August to the current projection of 19.55
tonnes) has been neatly matched by a practically
identical increase in Brazil (from 33.22 mln tonnes to
Meanwhile, global consumption is forecasted to grow
to 165.801 mln tonnes, raw value.
World production is now expected to be 4.274 mln tonnes lower than
world consumption as against 3.626 mln tonnes projected in November
Consequently, the statistical outlook for the market till the end of the
2009 remains constructive and supportive to world
The ISO puts world export availability for 2008/09 at 49.608
46.25 mln tonnes in the previous crop cycle
Smaller output in importing countries and in India, in particular, is
expected to trigger additional import demand which is estimated to reach
up 3.673 mln tonnes.
A summary of the third assessment of the world sugar balance in
is provided in the table below.
World Sugar Balance
2008/09 2007/08 Change
(mln tonne, raw value) in mln t
161.527 168.611 -7.084
165.801 162.241 3.560
-4.274 6.370

49.621 45.948 3.673
49.608 46.245 3.363
66.272 70.533 -4.261
Stocks/Consumption ratio
39.97 43.47

ISO quarterly market outlook, February 2009

as at
Jan
Mar
May
Jul
Oct
Mar
May
Jul
Oct
Mar
AUD/USD
USD/BRL
USD/THB
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mln tonnes lower than
mln tonnes projected in November.
Consequently, the statistical outlook for the market till the end of the
remains constructive and supportive to world
49.608 mln tonnes,
mln tonnes in the previous crop cycle.
Smaller output in importing countries and in India, in particular, is
nal import demand which is estimated to reach
A summary of the third assessment of the world sugar balance in
Change
in mln t in %
7.084 -4.20
3.560 2.19

3.673 7.99
3.363 7.27
1 -6.04


as at : 20 November 2009

Jan-10 22.20
Mar-10 22.74
May-10 21.86
Jul-10 20.43
Oct-10 19.73
Mar-11 19.33
May-11 18.12
Jul-11 17.28
Oct-11 17.08
Mar-12 16.63

AUD/USD 0.919
USD/BRL 1.73
USD/THB 33.20
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This is summary Report and for
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Thanks
The Egyptian Center for Studies of Export & Import
General Manager
Medhat Saad Eldin
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