Glucose Syrup Price Forecast Report 2024-2025 | Price Trend, Latest Prices, Market Analysis, News, Chart, Demand, Extensive Forecast, Historical and Forecast Data

Glucose Syrup Price Forecast

The downfall of glucose syrup prices, which was initiated during the Q3 of 2023, is expected to continue in the forthcoming quarters of 2024. The dim pricing outlook is likely to be influenced by the drop in food and beverage manufacturing activities in European countries, along with the fall in natural gas prices. Further, the feedstock corn sector is also less likely to extend any support for the glucose syrup market in the near quarter. Additionally, surplus forecasts regarding corn harvests and dipping production costs further suggest a declining price forecast of the commodity.

Market Dynamics

The U.S. Department of Agriculture's latest estimates reveal that while demand for corn is rising, particularly for ethanol and animal feed, large harvests have depressed prices, fueling a bidding war among the downstream industries such as glucose syrup and raising uncertainties about its pricing outlook. However, the effect of this deficit is yet to be seen as the season-average price for corn is expected to decline by 5-cent in April as compared to last month's forecast. This decline is attributed to substantial harvests and lower ending stocks. The overall trend shows that, despite growing usage, abundant supply is keeping corn prices subdued, impacting the market trajectory of its derivatives, such as glucose syrup.

Annual Outlook for Glucose Syrup Industry

The glucose syrup market in 2024 is expected to experience price declines due to improved corn production and supply dynamics. The International Grains Council (IGC) and USDA offer differing forecasts, with IGC predicting a slight recovery in corn production to 1,130 million tonnes, while the USDA anticipates a more optimistic 1,236 million tonnes. The major contribution is said to be of key producers like the USA, China, and Brazil as they are projected to increase output, enhancing corn availability. Despite IGC's forecast of declining global corn trade, the USDA expects an increase, with major exporters like Brazil, the USA, and Ukraine maintaining strong trade volumes.

This improved corn supply is crucial for the glucose syrup market, as corn is its primary feedstock. Consequently, glucose syrup prices are thus forecasted to decline, reflecting the easing of corn prices. Additionally, global food prices are also expected to fall due to bumper harvests. However, risks such as adverse weather and fluctuating demand in Africa and Asia could pose potential upward pressure on prices.

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