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What to know about the clash between Thailand, Cambodia

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Demand Optimism Lifts Sugar Prices

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Raspberry on spoon of sugar by Myriams-Fotos via Pixabay
Raspberry on spoon of sugar by Myriams-Fotos via Pixabay

October NY world sugar #11 (SBV25) on Thursday closed up +0.33 (+2.03%), and October London ICE white sugar #5 (SWV25) closed up +8.80 (+1.87%).

Sugar prices rallied sharply on Thursday due to speculation that the recent slide in sugar prices to 4-year lows has sparked a pickup in demand.  China’s June sugar imports soared by 1,435% to 420,000 MT.  Also, President Trump last Wednesday said Coca-Cola agreed to use cane sugar in Coke beverages sold in the US instead of high-fructose corn syrup, which could boost US sugar consumption by +4.4% to 11.5 MMT from 11 MMT currently, according to Bloomberg Intelligence.

On Wednesday, sugar prices fell to 3-week lows due to speculation that India may boost its sugar exports.  Bloomberg reported Monday that the country may permit local sugar mills to export sugar in the next season, which starts in October, as abundant monsoon rains may produce a bumper sugar crop.  India’s Meteorological Department reported Monday that cumulative monsoon rain in India is 6% above normal as of July 21.

The outlook for higher sugar production in Brazil is bearish for sugar prices.  Datagro said Monday that dry weather in Brazil has encouraged the country’s sugar mills to increase their cane crushing, diverting more of the cane crush toward more profitable sugar production rather than ethanol.  According to Covrig, Brazil’s sugar mills are expected to crush 54% of the available cane in the first half of this month, likely adding 3.2 MMT of sugar into the market.

The outlook for higher sugar production in India, the world’s second-largest producer, is bearish for prices.  On June 2, India’s National Federation of Cooperative Sugar Factories projected that India’s 2025/26 sugar production would climb +19% y/y to 35 MMT, citing larger planted cane acreage.  That would follow a -17.5% y/y decline in India’s sugar production in 2024/25 to a 5-year low of 26.2 MMT, according to the Indian Sugar Mills Association (ISMA).  Also, the ISMA reported on July 7 that India’s sugar production during Oct 1-May 15 fell -17% y/y to 25.74 MMT.

Sugar prices have retreated over the past three months, with NY sugar falling to a 4.25-year low earlier this month and London sugar sliding to a nearly 4-year low, driven by expectations of a sugar surplus in the 2025/26 season.  On June 30, commodities trader Czarnikow projected a 7.5 MMT global sugar surplus for the 2025/26 season, the largest surplus in 8 years.  On May 22, the USDA, in its biannual report, projected that global 2025/26 sugar production would increase by +4.7% y/y to a record 189.318 MMT, with global sugar ending stocks at 41.188 MMT, up 7.5% y/y.

Ex-MasterChef host ‘sorry’ but says he’s ‘not a groper’

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Noor Nanji & Steven McIntosh

Culture reporters, BBC News

BBC Gregg Wallace on MasterChef, wearing a dark blue shirtBBC

An independent review upheld 45 allegations against Wallace relating to his behaviour on MasterChef

Former MasterChef host Gregg Wallace has said he is “so sorry” to anyone he hurt, but insisted that he is “not a groper, a sex pest or a flasher”.

In a new interview with The Sun, the TV presenter also defended his sacked co-host John Torode, saying he is “not a racist”.

Wallace was sacked earlier this month after a report upheld 45 allegations about his behaviour on the programme, including one of unwelcome physical contact and three of being in a state of undress.

Torode was also axed after a claim against him using “an extremely offensive racist term” was upheld. He has said he has “no recollection” of the incident.

The inquiry, conducted by an independent law firm, was ordered by MasterChef’s production company Banijay in the wake of a BBC News investigation last year, which first revealed claims of misconduct against Wallace.

Since then, more than 50 people have come forward to BBC News with claims against him.

They include allegations he groped one MasterChef worker at a wrap party and pulled his trousers down in front of another.

The majority of substantiated claims against Wallace related to inappropriate sexual language and humour, but also culturally insensitive or racist comments.

In his first interview since being sacked, the presenter acknowledged that he had said things that “offended people, that weren’t socially acceptable and perhaps they felt too intimidated or nervous to say anything at the time.

“I understand that now – and to anyone I have hurt, I am so sorry.”

He indicated his background was to blame for those comments, as a former greengrocer from Peckham working in an environment that was “jovial and crude”.

But he added: “I’m not a groper. People think I’ve been taking my trousers down and exposing myself – I am not a flasher.

“People think I’m a sex pest. I am not.”

Wallace said that one of the upheld claims against him related to a widely reported incident in which he had allegedly walked around MasterChef’s set naked with a sock on his penis.

Addressing that incident, he said that there were no contestants on set, and just four of his friends from the show outside his dressing room door.

“I was getting changed to go to a black tie event, a charity event. I put my bow tie on and my shirt. It’s only them outside the door. I put the sock on, opened the door, went, ‘Wahey!’ and shut the door again.

“The people interviewed were either amused or bemused. Nobody was distressed,” he claimed.

Autism defence

Ahead of the report’s publication earlier this month, Wallace posted a now-deleted statement on Instagram in which he appeared to link the misconduct allegations he was facing to his recent autism diagnosis.

That led to a backlash from charities and groups working with disabled people. One charity told BBC News that autism is “not a free pass for bad behaviour”, while other groups warned that such remarks risked stigmatising the autistic community.

In his interview on Friday night, Wallace spoke again about his diagnosis, saying: “I know I struggle to read people. I know people find me weird. Autism is a disability, a registered disability.”

He also repeated a claim that he “never [wears] pants”, saying: “It’s not sexualised. It’s hypersensitivity – that happens with autism.”

John Torode and Gregg Wallace on MasterChef

The BBC has said a previously filmed series featuring Wallace and Torode will still be broadcast as planned

Last week, Wallace’s co-host Torode was sacked after an allegation of using a severely offensive racist term was upheld.

BBC News has since revealed that the alleged incident took place on the set of MasterChef in 2018.

Torode has said any racist language is “wholly unacceptable”.

Addressing the claim against his co-host, Wallace said: “I’ve known John for 30 years and he is not a racist.

“And as evidence of that, I’ll show you the incredible diversity of the people that he has championed, MasterChef winners, over the years. There is no way that man is a racist. No way. And my sympathies go out to John because I don’t want anybody to go through what I’ve been through.”

But he added that he had unfollowed Torode and his wife Lisa Faulkner on social media, saying: “We never really did get on that well.

“We’re two very, very different characters.”

Earlier this week, the BBC announced that a new series of MasterChef, which was recorded before Wallace and Torode were sacked, will still be broadcast as planned, on BBC One and iPlayer.

Some of the women who came forward with claims against Wallace have said they did not think the new series should be shown.

One former MasterChef worker, who claims he groped her, told BBC News the decision to go ahead showed “a blatant disregard for the people who have come forward”.

The BBC said it had taken the decision “after careful consideration and consultation with the contestants”.

It added it has not yet taken a decision on what to do with the completed celebrity series and Christmas special.

FEMA denying some funding after floods

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