Daily Sugar Price – 31 March 2020

Tuesday, 31 March 2020

The March 2020 contract settled at: 10.73 US c/lb
The Australian Dollar currently trades at: 61.74 US cents

Forward indicative prices in Australian dollars are:

*$380 for May Contract – 2019 season

$380 for 2019 season

$397 for 2020 season

$413 for 2021 season

$431 for 2022 season

(The 2019 Target Price Contract reflects a whole-of-season weighted average in a 0:0:0:6 ratio across the remaining contracts.

For Growers who have chosen to roll 2019 March contract – QSL will gross up their target price to be inclusive of roll costs incurred, currently $ 3.81.

Proudly brought to you by Kalagro Limited.
Information sourced from QSL.

2020 SEASON & COVID-19

2020 SEASON & COVID-19

There have been a number of communications issued from Wilmar and QSL over recent weeks providing updates of practices and processes that have been put in place in order to minimise the impact of COVID-19. Updates, which included “ QSL frequently asked questions” have been uploaded to our web page for members information.

KCGO posed a number of questions to both QSL and Wilmar that were relevant to the storage and export of raw sugar from the Burdekin region through STL’s Townsville facility. Q & A response received from QSL is detailed below, some of which has also been addressed in their recent communications to growers. Wilmar are yet to provide a formal response to questions posed with their current efforts, as a first step, in having State/Federal Government to officially recognise the Sugar Industry as an “essential service” .

KCGO is also aware peak industry bodies in conjunction with Dept of Agriculture and Fisheries have formed working groups to investigate various scenarios and possible impacts to the sugar industry during these uncertain times. QSL, ASMC, STL and CANEGROWERS are known to be participating. Matters being addressed include but not limited to:
• Workforce availability
• WHS
• Business Continuity
• Supply Chain and Logistics

Questions that QSL have responded to are:

• Will there be any residual 2019 sugar remaining in QSL’s Townsville STL terminal storage facilities as of commencement of 2020 season?
At this stage, QSL expect that there will be something like two cargoes left in stock (60,000 tonnes) depending when the season starts. This is quite normal.
• What is the storage capacity of STL Townsville facilities?
The terminal at Townsville can hold 770,000 tonnes of which allocation to QSL/Wilmar is roughly 50/50. Have confirmed with STL storage capacity of its four sheds is approx. 750,000 tonnes (Shed 1- 130kt, Shed 2- 150kt, Sheds3/4- 470kt). This combined holding capacity represents 66% of the Burdekin crop. read more

Daily Sugar Price

Monday, 30 March 2020

The March 2020 contract settled at: 11.10 US c/lb
The Australian Dollar currently trades at: 61.62 US cents

Forward indicative prices in Australian dollars are:

*$393 for May Contract – 2019 season

$393 for 2019 season

$404 for 2020 season

$417 for 2021 season

$433 for 2022 season

(The 2019 Target Price Contract reflects a whole-of-season weighted average in a 0:0:0:6 ratio across the remaining contracts.

For Growers who have chosen to roll 2019 March contract – QSL will gross up their target price to be inclusive of roll costs incurred, currently $ 3.81.

Proudly brought to you by Kalagro Limited.
Information sourced from QSL.

MEMBER REMINDER – Wilmar BMP Incentive Payment

MEMBER REMINDER – WILMAR BMP INCENTIVE PAYMENT

In 2019 Wilmar extended its BMP incentive to growers.

To be eligible for the incentive payment, growers had to register for the Smartcane BMP program by 29th March 2019 and achieve accreditation for the three core modules by 1st July 2020.

This is a reminder for members who have since been accredited or who will do so in the coming 3 months to claim the incentive payment. To apply for incentive the attached form needs to be completed along with provision of “Certificate of Accreditation”.

Les Elphinstone
Manager KCGO

thumbnail of 260319_MEDIA RELEASE_Wilmar extends BMP incentive (1)

thumbnail of BMP Form v1

(click to view full size)