The market keeps focusing on India and sugar has another day of expressive increase in the USA and UK

Sugar

United States

United Kingdom

Published Feb 1, 2023

Original content

The futures market for sugar ended the day with significant appreciation for prices at terminals in London and New York. The white type rose 2.11% in London, trading at US$ 580.70 a tonne. In New York, the raw type advanced 2.59%, being traded for 21.75 cents/lbp. According to an analysis by the international website Barchart, the sweetener had one more day of support in supply concerns from India, which recently reported a cut in production estimates, due to weather problems that affected the country's main production areas. According to information from Safras & Mercado, the commercial body previously expected that India would produce 36.5 million tons in current season ending September 30, surpassing last year's record production of 35.8 million tonnes. In addition, India does not intend to allow more exports of the product in the next cycle. "Sugar prices have also been supported since last Tuesday, when Petrobras raised gasoline prices by more than 7% for distributors. ...

Source: NoticiasAgricolas

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