Épisodes

  • Sugar Slump: Surplus Sours Market as Brazil & India Crops Soar

    Sugar Slump: Surplus Sours Market as Brazil & India Crops Soar
    Nov 17 2025
    https://www.instagram.com/vanessaclarkipai

    This is your Daily Sugar Price Tracker with Vanessa Clark podcast.

    Welcome to the Daily Sugar Price Tracker. I am Vanessa Clark, and as always, I am here to bring you the latest news, analysis, and actionable insights on the global sugar market to help you stay ahead in your trading or business decisions.

    Let us start with today’s headline number. As of this afternoon, the March New York world sugar contract, also known as Sugar Number Eleven, is trading at fourteen point three four cents per pound. That is near a five-year low, reflecting the persistent pressure from expectations of a global sugar surplus. According to ICE’s Sugar Number Eleven futures data, this is more than thirty percent lower than where we were a year ago. The story is similar for white sugar, where the March contract on the London exchange is also trending lower.

    What is driving these lows? It is all about supply. The International Sugar Organization reported on Monday that a global sugar surplus of about one point six million metric tons is forecast for the 2025-2026 season. This is a sharp reversal from last year’s deficit and is largely due to bigger crops out of India, Thailand, and Brazil. Brazil’s sugar production, according to the latest data, is expected to hit a record forty-five million metric tons this marketing year, as sugarcane mills continue to favor sugar over ethanol production. India’s revised forecasts now point to sugar output climbing to thirty-one million metric tons, which is nearly nineteen percent more than last year. Plus, the association cut their estimate for sugarcane being diverted to ethanol, freeing up even more for the market.

    For those tracking prices, this flood of supply is the main reason we have seen raw sugar futures tumble over the last month. Market analysts at Expana report that the most recent futures value is almost thirteen percent below where it stood just thirty days ago. The situation is so stark that some in the market are wondering how much lower prices can go before production incentives start to slip.

    What does this mean for your bottom line? If you are a buyer, these lower prices could be an opportunity to lock in purchases at multi-year lows. However, keep an eye on weather updates from Brazil and India. While the surplus story is dominating now, any disruptions from heavy rains or swings in ethanol policy could tighten the market and lead to quick reversals.

    Another point for industry professionals: global demand is still expected to grow, albeit slowly. The United States Department of Agriculture projects worldwide human sugar consumption to rise about one point four percent this year, hitting almost one hundred seventy-eight million metric tons. So, while supply is plentiful for now, things could shift if crop conditions change or consumption outpaces the most recent forecasts.

    Let us wrap up with a quick actionable takeaway. If you are in procurement or produce food and beverage products, you might consider reviewing your contracts and supply chain hedges while prices remain depressed. On the other side, if you are a producer, these market conditions highlight the need for efficiency and perhaps greater flexibility in shifting between sugar and ethanol production as margins dictate.

    That is your daily roundup on the global sugar market. Thank you for joining me, Vanessa Clark, on the Daily Sugar Price Tracker. Make sure you subscribe, share the show with your colleagues, and tune in next time for all the latest on sugar prices and market moves. Have a sweet day and see you soon.

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    4 min
  • Sweet Surplus: India's Export Move Shakes Up Sugar Markets

    Sweet Surplus: India's Export Move Shakes Up Sugar Markets
    Nov 14 2025
    https://www.instagram.com/vanessaclarkipai

    This is your Daily Sugar Price Tracker with Vanessa Clark podcast.

    Welcome back to the Daily Sugar Price Tracker with Vanessa Clark. I’m Vanessa, and thank you so much for tuning in. Today is Friday, November 14, twenty twenty five, and I’ve got all the latest sugar market moves, supply updates, and practical tips for anyone keeping an eye on this essential commodity.

    Let’s kick things off with the big number everyone wants. As of today, the current trading price for raw sugar sits around fourteen point eight cents per pound, which is up almost three percent from yesterday. Now, if you’ve been watching the charts, you know that's actually a two-week high after sugar spent much of the last month sliding lower and even hitting its lowest point since December twenty twenty. In fact, over the past thirty days, sugar prices have dropped by nearly six percent and are down over thirty percent compared to a year ago. Historically, sugar peaked at sixty-five cents per pound back in nineteen seventy-four, but today we’re seeing prices near levels not seen in over four years.

    What’s behind these ups and downs? The biggest factor right now is global supply. Brazil, India, and Thailand have all reported strong harvests, leading to a predicted worldwide surplus for the current marketing year, which kicked off in October. Earlier this week, market analyst Datagro lowered its forecast for the global sugar surplus to just one million tons, down from nearly three million. That’s a sign that the surplus might not be as big as some feared, but it’s still enough to weigh on prices.

    India made headlines again this morning when its food ministry said they’ll allow exports of one and a half million metric tons of sugar this season, below what many had expected. Last year, bad weather cut production, but this season’s outlook is improved—there’s even talk that more sugar could be heading for export markets if domestic conditions stay strong. This move bumped prices up, at least temporarily, since India is such a massive player in the global market.

    Brazil, meanwhile, continues to pump out record amounts of sugar, with their main crop agency raising production estimates just this week. In Brazil’s Center-South region alone, sugar output jumped more than sixteen percent compared to last year. All that extra supply keeps prices under pressure despite occasional rebounds like today’s.

    For anyone buying sugar for your bakery, factory, or even just home use, what does this mean in practice? If you’re price-sensitive, now’s a good time to keep an eye on the market. While prices have rebounded in the short term, long-term forecasts point lower, with analysts expecting sugar to slip closer to thirteen cents per pound by the end of the quarter and potentially dip below thirteen cents within the next year. If your budget depends on stable prices, consider locking in supply contracts soon, or at least monitoring market news closely.

    Quick tip for small business owners and growers: watch the news for export policy updates, especially from India and Brazil, as these can move prices fast. Also, weather reports matter—a dry spell in key growing regions, or sudden policy changes, can nudge prices higher in just days.

    On a more local note, some countries are making big strides toward sugar self-sufficiency. Take Kyrgyzstan, for example. In twenty twenty four, farmers there doubled down on sugar beet production. The country covered its entire domestic sugar demand with local crops and aims to ramp up even more by twenty thirty. If you’re interested in how global trends affect local markets, these developments are worth watching.

    Alright, that wraps up today’s episode of the Daily Sugar Price Tracker. I hope you found the news and tips helpful. Be sure to subscribe and join me again tomorrow for another update on sugar prices, market trends, and how these changes can affect you. Thanks for listening, and remember—keep it sweet!

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    5 min
  • Sugar Surge: India's Export Cut Stirs Global Markets

    Sugar Surge: India's Export Cut Stirs Global Markets
    Nov 13 2025
    https://www.instagram.com/vanessaclarkipai

    This is your Daily Sugar Price Tracker with Vanessa Clark podcast.

    Welcome back to the Daily Sugar Price Tracker. I am Vanessa Clark, and as always, I am here to keep you in the loop on everything happening in the world of sugar prices and trends. Whether you’re a trader, a food industry professional, or just love staying informed about global commodities, you’re in the right place.

    Let’s jump right in with the latest numbers. As of this evening, March New York world sugar futures, also known as Sugar Number Eleven, closed up at around nineteen point nine cents per pound. That is a rise of a little over two percent on the day, putting sugar at its highest level in a week. London’s white sugar futures also saw gains, up more than two percent, with December contracts nearing six hundred dollars per ton. So after weeks of declining prices, we are seeing a sharp rebound.

    Now, what’s behind this uptick? The biggest factor in today’s rally is uncertainty around Indian sugar exports. India’s food ministry is reportedly considering reducing sugar export quotas for the upcoming season, possibly capping exports at one and a half million metric tons, which is significantly less than previously anticipated. India is usually one of the largest exporters of sugar, so even a small reduction can have ripple effects on the global supply and push prices higher. Supply issues are never just about one country, but when a major player like India tightens the tap, the market feels it.

    At the same time, there is a backdrop of robust global supply. Brazil, for example, has seen excellent harvests, flooding the market and weighing on prices in recent months. That’s why earlier this week, sugar futures had hit multi-year lows. So the big question now is whether those Indian export restrictions will be enough to shift the balance, or if Brazil’s output will continue to outweigh everything else.

    For those in the industry, what does this mean? If you’re buying sugar for food or beverage production, now would be a good time to reassess your supply contracts. Volatile prices mean more uncertainty, so locking in rates or diversifying suppliers might hedge some of that risk. For anyone investing in commodities, keep an eye on Brazil’s harvest projections and any official announcements from India because both have the potential to move markets swiftly.

    From a bigger picture perspective, the global industrial sugar market is predicted to grow steadily over the next decade, driven by higher consumer demand for processed foods and beverages. The Asia Pacific region leads global consumption, with China and India as the dominant drivers, while North America and the Middle East are also seeing strong growth in sugar use, especially for bioethanol and pharmaceuticals.

    That’s all for today’s edition of the Daily Sugar Price Tracker. I’m Vanessa Clark, and I want to thank you for spending your time with me. If you found today’s insights useful, be sure to subscribe, and don’t forget to tune in next time for the latest updates, trends, and practical tips to help you stay ahead in the ever-evolving sugar market. Have a sweet day, and see you soon!

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    4 min
  • Sugar Shake-Up: Mexico's Tariff Twist, Brazil's Bumper Crop, and Your Bottom Line

    Sugar Shake-Up: Mexico's Tariff Twist, Brazil's Bumper Crop, and Your Bottom Line
    Nov 12 2025
    https://www.instagram.com/vanessaclarkipai

    This is your Daily Sugar Price Tracker with Vanessa Clark podcast.

    Hello and welcome back to Daily Sugar Price Tracker with Vanessa Clark. I’m Vanessa, here with your essential rundown of sugar commodity prices and market trends for Wednesday, November twelfth, twenty twenty-five. If you’re searching for the latest on global sugar prices, production updates, and what’s driving the market, you’re in the right place.

    Let’s start with today’s key numbers. On the National Mercantile Exchange, refined sugar traded at an average spot price of fourty-six thousand eight hundred rubles per metric ton, which is about five hundred seventy-five dollars per ton with the current exchange rate. There was also an auction, and there the average price edged slightly higher to fourty-seven thousand rubles per metric ton, about five hundred seventy-eight dollars. For those tracking international markets, the December futures contract for white sugar number five closed at approximately four hundred seventy-three dollars per metric ton on London’s ICE exchange. In New York, sugar number eleven futures finished the day around fourteen point two four cents per pound.

    So, what’s influencing these prices? The global sugar market continues to grapple with surplus supply, thanks to record-breaking harvests in Brazil this season. As a result, we saw raw sugar prices recently hit a five-year low on the New York exchange. Czarnikow, a leading commodity trader, just boosted their estimate for the world sugar surplus for the twenty twenty-five to twenty twenty-six marketing year to eight point seven million metric tons, a significant jump from earlier predictions.

    Meanwhile, there’s a major policy shift in Mexico, where the government has set a hefty tariff of one hundred fifty-six percent on sugar imports effective this week. Mexico’s authorities say this move is meant to insulate their domestic market from sliding prices caused by the worldwide glut. With tariffs this high, imported sugar is effectively kept out, providing a little room for local prices to firm up during their new harvest cycle.

    If you’re buying or selling sugar, keep in mind these global surpluses and policy moves can play a big role in short-term price swings. Exporters from major producing countries like Brazil and India might see more volatility if local governments take protective steps or if weather throws a curveball at harvests. For food manufacturers and businesses relying on stable sugar prices, now is a good time to review your sourcing strategies and contracts to stay ahead of rapid market shifts.

    On the farm side, there’s good news from production: Brazil’s output remains at record highs, while Mexico is rebounding after weather issues, with an estimated five point two million tons produced this harvest. However, European beet growers are flagging challenges ahead, from lower acreage to shifting policy dynamics around health and environmental concerns.

    Tracking trends in refined sugar, beet sugar, and raw sugar can help you make smarter buying and budgeting decisions, especially when volatility is high. If you’re searching online for the latest sugar commodity prices, sugar futures trends, or ways to manage risk in your business, make sure you check reputable exchanges, industry news, and government market reports daily.

    That wraps up today’s episode of Daily Sugar Price Tracker. I’m Vanessa Clark. Thank you so much for tuning in and for trusting us to keep you up to date with all things sugar. Don't forget to subscribe so you never miss a beat, and join me next time for your daily dose of global sugar market news. Have a sweet rest of your day!

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    4 min
  • Sweet Surplus: Brazil and India's Sugar Shake-Up Sends Prices Tumbling

    Sweet Surplus: Brazil and India's Sugar Shake-Up Sends Prices Tumbling
    Nov 11 2025
    https://www.instagram.com/vanessaclarkipai

    This is your Daily Sugar Price Tracker with Vanessa Clark podcast.

    Hey everyone, welcome back to Daily Sugar Price Tracker. I'm Vanessa Clark, and today we're diving into what's happening in the global sugar market right now. If you've been paying attention to commodity prices lately, you know sugar has been on quite a rollercoaster, and today we've got some really important updates to break down.

    Let's start with where prices are sitting today. As of November eleventh, sugar is trading at fourteen point twenty-eight cents per pound, up just slightly from yesterday. Now, I know that might not sound like much, but here's the thing that matters: we're looking at prices that are down eight point five four percent just in the past month alone. Year to date, sugar is down a massive thirty-three percent. We're essentially at prices we haven't seen since twenty twenty, and that tells you something significant is happening in this market.

    So what's driving these lower prices? The answer comes down to one word: surplus. The global sugar market is facing an expected surplus for the twenty twenty-five twenty twenty-six season, and it's all because of what Brazil and India are doing. These are the world's two largest sugar producers, and they're making a strategic shift that's shaking up the entire market.

    Here's what's happening on the ground. In Brazil, sugar mills are actually wrapping up their harvests earlier than usual, and they're changing their production mix. Instead of dedicating all their sugarcane to sugar, they're now directing more than fifty percent of their cane toward ethanol production. Why? Because ethanol prices are outperforming the struggling sugar market right now. It's pure economics. When ethanol is more profitable than sugar, mills follow the money.

    In India, the situation is a bit different but equally impactful. Heavy rainfall has affected the sugar content of their crops, which has actually lowered production forecasts. But that's not enough to offset what Brazil is doing.

    Now, here's where it gets really interesting from a market perspective. Earlier this month, Datagro, a major agricultural research firm, actually cut its forecast for the global sugar surplus dramatically. They're now estimating the surplus at just one million metric tons for the twenty twenty-five twenty twenty-six season. That's down from their previous estimate of two point eight million metric tons. That's a huge correction, and it's mainly because of these production decisions we're seeing from Brazil and India.

    But even with that adjustment, the market remains under pressure. The reality is we've got ample supply coming from multiple sources. Thailand has had favorable harvest prospects following good monsoon rains. Even with slightly tighter conditions than initially expected, the world still has plenty of sugar.

    Looking ahead, what should you be watching? Keep an eye on how Brazilian mills continue to manage their sugar to ethanol ratios. Monitor India's monsoon patterns and their crop development. And watch commodity cyclicality. According to market analysts, while sugar prices could continue lower in the near term, eventually we'll hit a bottom where production becomes less economically viable, inventories decline, and prices stabilize.

    The takeaway for today: sugar prices are near multi-year lows at fourteen point twenty-eight cents per pound, driven by expected global surplus conditions and strategic production shifts from the world's leading producers. The market is under pressure, but that doesn't mean prices can't find a floor.

    Thanks so much for tuning in to Daily Sugar Price Tracker. I'm Vanessa Clark. Be sure to subscribe so you don't miss our next episode where we'll continue tracking these critical commodity movements. We'll be back tomorrow with the latest price action and market insights. Take care, and I'll talk to you soon.

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    4 min
  • Sugar Glut: Bittersweet Times for Producers and Shoppers

    Sugar Glut: Bittersweet Times for Producers and Shoppers
    Nov 10 2025
    https://www.instagram.com/vanessaclarkipai

    This is your Daily Sugar Price Tracker with Vanessa Clark podcast.

    Welcome back to the Daily Sugar Price Tracker. I am Vanessa Clark, here with today’s essential update on sugar prices, the market outlook, and what you need to know to stay ahead in the world of commodities.

    Let us start with the current trading price for sugar. As of today, Monday, November tenth, two thousand twenty five, raw sugar futures are up one point one two percent and trading at about fourteen point two six cents per pound. This marks a small rebound after what has been a very challenging few weeks for sugar, with prices dropping to their lowest point in five years, recently dipping just below fourteen point three cents per pound on November sixth according to Trading Economics. White sugar futures are also on the move, trading around four hundred twelve dollars and sixty cents per ton, a slight uptick from last week but still stuck in a broader downward trend.

    Now, why are sugar prices so low right now? It is mainly a story of oversupply. We are seeing record harvests in Brazil, India, and Thailand. With Brazil alone expected to produce nearly forty five million metric tons of sugar this season, and India and Thailand also turning out bumper crops, the world is flush with sugar. On top of that, lower crude oil prices have made it less profitable to turn sugarcane into ethanol, pushing producers to focus even more on sugar output, which just adds to the supply glut.

    There was a brief window of optimism in the market just in the past few days. Hopes of a resolution to the United States government shutdown injected a sense of risk appetite back into commodity markets, including sugar. The US Senate took steps on November ninth to end the forty day shutdown, and the potential for some stability powered a short-lived rally across the board. We also saw talk out of India about allowing a modest amount of sugar exports this season, around one point five million metric tons, which gave a slight lift to market sentiment. But, looking at the fundamentals, the market still faces more sugar than it can consume.

    What does all of this mean for the outlook on sugar prices? Most analysts remain bearish for the months ahead. There will likely be continued downward pressure on prices unless we see something dramatic, like a major crop failure or a sharp reversal in government policy or oil prices. Trading Economics projects sugar sliding further, possibly hitting thirteen point nine six cents per pound by the end of this year, and even dipping to around twelve point nine nine cents per pound by this time next year. That means we are in for a period of low prices and tough margins for producers, but a potential boon for food makers and consumers.

    If you are an investor, a trader, or just someone who wants to understand what is happening at the grocery store, here are some practical takeaways. Track crop conditions in Brazil, India, and Thailand closely. Watch government policy announcements, especially around sugar export quotas and ethanol programs. Pay attention to oil prices, as they influence whether sugarcane is sold for food use or fuel. And keep an eye out for any surprise weather events, like La Nina, that could shake up this otherwise oversupplied market.

    Thanks for joining me for today’s Daily Sugar Price Tracker. Be sure to subscribe, share with a friend who cares about food prices, and tune in next time for the latest market movers and sugar insights. I am Vanessa Clark, wishing you a sweet day until we talk again.

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    4 min
  • Sugar Prices Dip: Your Sweet Update on Global Markets

    Sugar Prices Dip: Your Sweet Update on Global Markets
    Nov 7 2025
    https://www.instagram.com/vanessaclarkipai

    This is your Daily Sugar Price Tracker with Vanessa Clark podcast.

    Hello and welcome to the Daily Sugar Price Tracker, your one-stop podcast for everything you need to know about global sugar prices. I’m Vanessa Clark, and it’s Friday, November seventh, so let’s dive right into today’s latest updates on the sugar market.

    Let’s kick off with the most current trading prices. Internationally, London’s White Sugar number five contract is trading at about four hundred fifteen dollars per ton, while New York’s Sugar number eleven front month contract is at fourteen point three two cents per pound. That’s according to daily market updates from both the International Sugar Organization and trading platforms like ICE Futures Europe. To put this in perspective, those prices are sitting near five-year lows, driven by robust global supply, especially out of Brazil, which remains the world’s largest sugar producer.

    Zooming into domestic markets in India, prices are a bit more varied depending on the region. For example, in Muzaffarnagar, Uttar Pradesh, M-grade sugar is quoted at around four thousand to four thousand eighty rupees per quintal. Over in Kolhapur, Maharashtra, S-grade sugar is trading closer to three thousand seven hundred fifty to three thousand seven hundred eighty rupees per quintal. These variations reflect regional supply dynamics and demand patterns.

    Why such a dip in prices lately? Well, several market factors are at play. Brazil has significantly increased its cane crushing and sugar production, pushing global supply higher. Their corn ethanol industry has also expanded rapidly, making it more financially attractive for mills to focus on sugar rather than ethanol. Meanwhile, India and Thailand have had favorable harvests thanks to good monsoon rains, which means more sugar in the pipeline. The FAO’s latest report noted that the global sugar price index fell over five percent in October alone, marking the lowest levels since December twenty-twenty. Lower crude oil prices have contributed, too – when oil is cheaper, demand for ethanol drops, and more cane gets diverted to sugar.

    Let’s talk about the bigger picture. The global white sugar market is on track to reach forty-seven and a half billion dollars this year, with expectations to hit nearly seventy-one billion by twenty thirty-two. Asia Pacific is leading the charge, especially countries like India, Thailand, and China, due to favorable weather and government support for cane growers. At the same time, Latin America, notably Brazil, is seeing major growth in refining capacity and exports. The rise of urbanization and demand for packaged foods continues to fuel sugar consumption worldwide, even as health-conscious consumers drive interest in organic options and natural sweeteners.

    Now, what does this mean for you? If you’re a buyer or business owner, these price drops might offer a good window to plan purchases. For farmers and millers, however, the low prices could signal a more competitive market, so keeping an eye on cost management and efficiency is key. For everyday listeners, this could mean slight relief in prices for a range of everyday products that use sugar, from snacks and drinks to your favorite baked goodies.

    Here are a few takeaway tips for sugar market watchers:

    Stay updated on crop forecasts and key producing regions like Brazil and India.
    Watch currency movements, since a stronger real can impact export decisions.
    Keep an eye on biofuel trends, especially ethanol production—it directly affects supply allocations.
    Consider health and consumer trends; demand for organic and alternative sweeteners is rising, and this could reshape what you find on grocery shelves in the future.

    That wraps up today’s episode of the Daily Sugar Price Tracker. I’m Vanessa Clark, and I hope you found this breakdown both helpful and interesting. If you did, be sure to subscribe so you don’t miss future episodes. Thanks for tuning in, and join me again next time for the latest sugar market news and practical tips you can use.

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    5 min
  • Sugar Prices Hit Record Lows as Global Glut Grows

    Sugar Prices Hit Record Lows as Global Glut Grows
    Nov 6 2025
    https://www.instagram.com/vanessaclarkipai

    This is your Daily Sugar Price Tracker with Vanessa Clark podcast.

    Hello and welcome to the Daily Sugar Price Tracker. I’m Vanessa Clark, and today is Thursday, November 6, 2025. If you’ve ever wondered what’s really going on with the worldwide price of sugar or just want a quick catch-up on market trends and supply news, you’re in the right place.

    Let’s jump straight in with the most recent numbers. According to Trading Economics and several major market analysts, sugar futures closed today at around fourteen point one one cents per pound. That’s a slight decrease from the previous day, continuing a month-long decline that’s seen sugar prices fall by over fifteen percent just in the last four weeks and more than thirty-six percent from this time last year. For anyone watching these daily moves, this puts sugar trading near its lowest point since December twenty twenty, and marks a dramatic shift from last year’s higher prices.

    So why the steep drop? The answer is big, global, and all about supply. Strong harvests in Brazil, India, and Thailand have pushed global output up. Brazil is leading the charge, with its twenty twenty-five to twenty twenty-six sugar production estimated at around forty-five million metric tons—a new record, according to Brazil's crop forecasting agency and corroborated by other sources. In India, the Indian Sugar Mills Association and meteorological department are forecasting a bumper crop for the new season, driven by abundant monsoon rains and larger planted acreage. Thailand’s sugar production is also on the rise, projected to hit ten point five million tons this year.

    With those numbers, it’s no surprise global supply is outpacing demand. Research firms like StoneX and Czarnikow say global production will exceed consumption by nearly three million tons in the marketing year that started in October, swinging the market from a deficit last season to a surplus this one. When major producers ramp up output this much, prices naturally come under pressure.

    Another twist comes from the biofuel market. Brazil’s corn ethanol industry is expanding rapidly, making corn-based ethanol cheaper to produce than traditional sugarcane ethanol. As mills shift more cane to sugar production instead of ethanol, the surplus grows even larger. India is also expected to divert less sugar to ethanol this year due to lower oil prices, which could push even more sugar onto world markets and further depress prices.

    Looking ahead, forecasts point to sugar remaining weak for the next few months. Analysts expect prices to hold near their current lows and potentially trend slightly lower into next year if these harvests come in as strong as predicted.

    For those of you in food manufacturing, hospitality, or just keeping an eye on your grocery bills, there could be some benefits. Lower prices may mean cheaper input costs and stable retail prices for sugar-containing products. But if you’re a sugar producer or trader, this glut might mean tighter margins and cautious moves in the months ahead.

    That wraps up today’s snapshot. I’m Vanessa Clark, and this has been your Daily Sugar Price Tracker. If you found this episode helpful, be sure to subscribe and join us tomorrow for the latest updates on the sugar market. Thanks for listening, take care, and stay sweet.

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    4 min