Highlights & Experiences from Jake Chisholm
Editor’s Note: The proceeding is the first installment of a three-part series highlighting Jake Chisholm’s summer of 2016, where he interned for the International Sugar Organization in London. In 2015 Jake received his B.S. degree from North Dakota State University, majoring in agricultural economics and minoring in crop and weed science. He is a grower for American Crystal and has been a member and officer in several ag organizations throughout his collegiate career. Jake also served as the American Sugarbeet Growers Association’s Cleavinger Intern in the summer of 2014 in Washington D.C. I believe Jake’s writings will offer a unique perspective within the sugar industry and insight to how both the industry and farming overall varies in the United Kingdom.
From May 29th until August 4th, I had the pleasure to intern for the International Sugar Organization (ISO) in London, UK. During my time there, I experienced the fundamentals and factors that are influencing the global sugar markets. This article, the first of three, will highlight the purpose of the ISO and what contributions I made while interning there.
Luther Markwart focused on “take home” messages in his summary remarks toward the conclusion of this year’s American Sugarbeet Growers Association annual meeting. “What do we tell our growers? What do we do as leaders of this industry?” ASGA’s longtime executive vice president asked the local and regional grower association leaders in attendance.
Rising production costs and growing ethanol use in Brazil,
combined with policy-induced production swings across Asian countries,
are the main sources of higher and more-volatile sugar prices.
By Michael McConnell, Erik Dohlman & Stephen Haley*
World sugar prices soared to a 29-year high of nearly 30 cents a pound in early 2010 before falling back to half that level by early summer.** Still, they remain 50% higher than average over the past 20 years. Was this price spike a temporary oscillation caused by a supply shock, or does it reflect a more permanent fundamental shift in global market dynamics?