Global sugar prices rose in September with heated demand
Sugar
Published Oct 1, 2022
Tridge summary
Porto Alegre, September 30, 2022 – International sugar prices rose again in September, extending August's gains. On the New York Stock Exchange (ICE Futures US), a benchmark for the raw sugar market, contracts for delivery in October 2022 closed the session on September 29 at 18.44 cents per pound, compared to 17.89 cents on Aug. 31, up 3%.
Original content
On the London Futures and Finance Exchange (ICE Futures Europe), refined sugar's December position was quoted at USD 529.90 per ton at the close on September 29, up 1.3% from USD 523. .00 from the trading session of August 30th. Despite better-than-expected 2022 sugar harvests in the world's two main producers, Brazil and India, sugar futures rose in September supported by signs of tight supply for delivery on top of the October position of New York raw sugar, which is expiring this Friday (30), as India has already ended the 2022/33 harvest and importers rushed to supply themselves mainly with Brazilian sugar. In London, the contract for October delivery of refined sugar expired on September 12, priced at US$ 622.80 per ton, the highest level for a first position in about ten years. Traders rushed to cover short positions and avoid the commitment to physically deliver the refined sugar. According to some analysts, the global supply of refined sugar is likely to be even more ...
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