Sugar prices continue to decline again on the US and UK stock exchanges this Friday

Published 2024년 12월 20일

Tridge summary

Sugar prices have been decreasing for the seventh consecutive session in both the New York and London stock exchanges, with accumulated weekly losses reaching over 5% in New York and 4% in London. This downturn is largely due to India's potential approval for sugar exports, should a surplus arise after domestic ethanol blending demands are met. Additionally, the decline in sugar prices is also linked to signs of a higher-than-expected sugarcane crushing in Brazil. As a result, sugar contracts for March/25, May/25, July/25, October/25 on the New York Stock Exchange, and the March/25, May/25, August/25, and October/25 contracts on the London Stock Exchange have all experienced a decrease in price.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

This Friday (20), for the seventh consecutive session, sugar prices fell on the New York and London stock exchanges. Despite the slight reductions this Friday, in the accumulated weekly losses exceed 5% in NY and 4% in London. According to information from Barchart, sugar came under more pressure on Thursday after India's Food Secretary, Chopra, said that India may allow sugar exports if there is a surplus after domestic ethanol blending requirements are met. In addition, the portal points out that sugar prices have been on the defensive since last Thursday, due to signs of a higher-than-expected sugarcane crushing in Brazil, after Unica reported that Brazil crushed 20.35 MMT of sugarcane in the second half of November, above expectations of 15.5 MMT. At around 12:30 pm (Brasília time), in New York, March/25 was down 0.02 cents, trading at 19.38 cents/lbp. May/25 was down 0.03 cents, trading at 18.02 cents/lbp. July/25 was down 0.05 cents, trading at 17.58 cents/lbp, while ...

Source: NoticiasAgricolas