Thursday, March 14, 2024


Mackay and Whitsunday Life

Rabobank Roadshow Reveals Sweet Insights Into Sugar Market

A recent roadshow through north Queensland invited growers to hear from Rabobank’s experts on what the organisation believes the future holds for the sugarcane industry.

Pia Piggott is an Associate Analyst in the research division of Rabobank, RaboResearch, who presented to growers in Mackay last week.

Based in Sydney, Pia’s role includes public speaking at events, recording RaboResearch podcasts and publishing various reports, generating widespread media coverage that resonates beyond the agriculture industry.

“I cover sugar and horticulture, so I meet with clients, research the industries and provide insights into the commodities,” Pia said.

Pia presented at events in Mackay, Proserpine, Ayr and Ingham, aiming to provide a knowledge update from the bank on what’s happening in the sugar industry while it’s experiencing a down period for growers.

“It’s a good time to meet with growers and find out about what their interested in, what their looking at, as well as providing Rabobank’s view on the sugar price, the opportunities in the industry and global economics,” she said.

Pia spoke to growers about what’s happening in the major markets and major suppliers of sugar worldwide and how this can affect sugar prices.

“We overviewed what’s happening in India with their export ban and what that means for the potential sugar production in India; what’s happening in Thailand and how these prices are affecting area expansion of sugar cane; and most importantly, an update of what’s happening in Brazil, because Brazil is the largest producer and exporter of sugar in the world so we talked about how, last year, they experienced a record sugar crop, and that’s part of what has caused prices to fall to where they fell last year,” she explained.

Pia said the feeling among growers was positive, although Mackay growers shared concerns of standover if there’s no further downgrades in production estimates.

“The rain has been really positive, the humidity has been really positive, so the crop looks good and hopefully there’s no cyclones or extreme weather events in the next few months that could impact that potential,” she said.

As the world’s leading food and agribusiness bank, Rabobank’s supports the innovative farmers and agribusinesses who put food on our tables every day to do so sustainably.

Members are equipped with exclusive reports, monthly overview and other resources to improve the prosperity of farmers and rural communities across the country.

To find out more, contact Rabobank’s Mackay branch on 07 4842 6200.

Caption: RaboResearch Associate Analyst Pia Piggott

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