UK: Crop failure in the European Union favors London white sugar prices

Sugar

Sugar Beet

United Kingdom

Published Oct 11, 2022

Tridge summary

NY ICE closes lower.

Original content

The shortfall in the beet crop in the European Union, due to unfavorable weather conditions, supported the rise in sugar prices traded yesterday (10) at ICE Futures Europe in London. Only the May/24 lot closed undervalued, trading at US$ 468.50 a ton. All other screens closed higher. The December/22 maturity was contracted yesterday at US$ 555.40 a ton, an appreciation of US$ 2.60 in comparison with Friday's prices. The March/23 canvas was sold at US$ 510.50 a ton, an increase of US$ 1.10. The other contracts rose between 10 cents and 1.50 dollars. According to Reuters, traders noticed that strong white sugar prices in the European Union were helping to support the market. "EU sugar beet crop forecasts are slowly being reduced, resulting in high domestic prices causing consternation to food manufacturers," Green Pool analysis said in a weekly update. New York In New York, on ICE Futures, raw sugar closed in the red in all batches this Monday. The March/23 expiry was contracted ...

Source: Agrolink

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