Boston, MA 09/30/2014 (wallstreetpr) – According to reports, Platts has decided to increase the frequency of its data offering, news analysis and sugar prices in the markets of European markets. Platts is a division of world-famous McGraw Hill Financial Inc (NYSE:MHFI) and known as the leading petrochemicals, global energy, agriculture and metal information provider.
The management of Platts considers it a strong step towards long-term growth and development. According to Tim Worledge, Associate Editorial Director Agriculture at Platts, the industry is stepping closer to deregulation that is supposed to take place in 2017. There are a lot of other changes taking place as well in and around the country; hence, the increased frequency of sugar price assessment will give Platts, an edge over its competitors. In coming years, those who’ll practice independent pricing will be in a better position than others. According to him, the sugar price assessments that used to publish on a monthly basis in the past would now be published every week.
The competition has reached an advanced level; therefore, Platt would increase the reporting schedule. It will also introduce market commentary with assessments, data offering and analysis in new weekly publication. The latest Kingsman Weekly EU Sugar Report of Platts includes monthly, weekly and daily information package about agriculture, which will focus on global sugar market data. The company wants to put maximum emphasis on the development of continent-wide sugar market. According to Andrea Mayendia, Commercial Directors of Agriculture, continent-wide sugar market will play an important role in the overall development of the economy in coming years. It will increase not only the cost, but also the competition in the market. Once the EU Common Agricultural Policy is implemented in 2017, price support for sugar producing commodities and country-by-country sugar quotas will be abolished. It will mandate the liberalization in the European Sugar Market.