Daily Sugar Price

Thursday, 13 June 2024

The May 2024 contract settled at:  19.10 US c/lb

The Australian Dollar currently trades at: 66.64 cents

Forward indicative prices in Australian dollars are:

$628 July 24 Contract

$623 for 2024 season

$591 for 2025 season

$573 for 2026 season

The figures quoted above are indicative of available ICE 11 prices as at the current date and reflect the weighted average AUD/tonnes gross actual price. The prices have been adjusted to include Over-the-Counter (OTC) margin fees charged by banking institutions and, therefore, may differ from daily prices quoted by the ICE #11 Exchange and/or other Marketers of Growers’ Economic Interest in Sugar (GEI Sugar). Values also do not account for any adjustments resulting from local grower-miller pricing arrangements. The Target Price Contract price currently reflects a 0:3:2:1 pricing ratio for the 2023 Season across the four applicable futures contracts, and a 1:2:2:1 ratio in the 2024, 2025 and 2026 Seasons.

Notice to Members – Industrial Action – Fair Work Commission evidence filed

Notice to Members – Industrial Action – Fair Work Commission evidence filed

Dear Members,

In relation to Wilmar Sugar’s application to the Fair Work Commission, KCGO provided evidence that was filed with the Commission, of the potential  consequential losses to growers of protracted protected further industrial action.  The objective was to personalise the impact – that of individual farming entities/families and the wider Burdekin community reliant upon the work and income generated by the crushing.

The matters touched upon made real the likely negative impact on growers this season, bleeding into next season, should crushing be disrupted and the season length pushed out or crushing ceased before all cane was harvested.  KCGO clearly stated no comment was made on the veracity of the dispute, however, as KCGO represents the interests of growers, an important factor in the deliberations of the Fair Work Commission when determining Wilmar Sugar’s application, was to have regard to the probable significant  financial implications and disruption to your families and farming businesses.

KCGO will keep members apprised of developments.


Allan Parker