Book excerpt: Since its launch, Sugar Trading Manual (STM) has established itself as the definitive information source for the sugar market worldwide. It is compiled from contributions by some of the most senior and widely respected figures in the international sugar trade. This edition takes into account changes in all aspects of the business including production, markets, pricing, contracts, administration and management, and the influence of the major trading blocs. STM is an invaluable training resource for all new entrants to the industry as well as providing everyone already involved in the global sugar business with vital information on its day-to-day workings. - The only comprehensive, updateable reference source to the structure and conduct of the global sugar business - Written by well-respected industry insiders - Covers the entire spectrum of trading instruments and markets