Sugar price falls in Brazil, retreats on the New York Stock Exchange, but advances in London this Tuesday

Sugar futures prices ended the session this Tuesday (22) with a fall on the New York Stock Exchange, but an advance in London. The sweetener market follows financial information on the day, mainly oil, in addition to crops in India and Brazil. The most traded month of raw sugar on the New York Stock Exchange fell 0.60% on the day, quoted at 19.74 cents/lb, with a high of 20.07 cents/lb and a low of 19.68 cents/lb. At the London terminal, the first contract was up 0.26%, at US$ 537.30 a tonne. The sugar market followed factors on both sides of the table this Tuesday afternoon on foreign exchanges. The main support for the day came from oil. Oil fluctuations directly impact all energy products, including sugar. Saudi Arabia, the top exporter, said OPEC+ was maintaining production cuts and could take further steps to balance the market. Negatively, the sweetener also accompanies the information that comes from the main producing origins. The 2023/24 crop in Center-South Brazil tends ...