In US, raw sugar price hits nearly six-year high on ICE
Sugar
United States
Published Jan 31, 2023
Tridge summary
Raw sugar futures traded on ICE rose to their highest level in nearly six years on Monday, amid concerns over an eventual supply shortage in India. Raw sugar for March delivery closed up 0.25 cents, or 1.2%, to 21.21 cents a pound after peaking at 21.33 cents - the lowest high for the first delivery since early February 2017.
Original content
Traders said the potential for more Indian exports was dampened by crop fears, which were concentrated in the biggest producing state, Maharashtra. “Focus has been on lower Indian crop estimates and the possibility that the Government of India may not allow further exports for 2022/23,” Green Pool analysts said in a weekly update. Some traders, however, warned that the market was entering overbought territory and could see ...
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