Global: Sugar contracts close higher with support from the weather and expectations of improved demand from China

Published 2022년 12월 9일

Tridge summary

Raw sugar and white sugar prices have increased across various contracts on ICE Futures New York and London. The recovery of demand from China is anticipated to boost prices of all energy products. In particular, the March/23 raw sugar contract on ICE Futures New York rose by 20 points to 19.68 cents per pound, while the May/23 contract increased by 16 points to 18.51 cts/lb. Similarly, the March/23 white sugar contract on ICE Futures Europe rose by US$ 3.50 to US$ 540.60 a ton, and the May/23 contract increased by US$ 3.20 to US$ 526.70 a ton. Crystal sugar prices in Brazil also increased by 1.16%, and hydrous ethanol prices fell by 1.66%.

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Original content

In addition, there is the expectation of the recovery of demand from China, which improves the prices of all energy products. Raw sugar closed higher across all lots on ICE Futures New York. The March/23 contract increased by 20 points, trading at 19.68 cents per pound. The May/23 contract, on the other hand, had a positive variation of 16 points with trading at 18.51 cts/lb. White sugar also rose on London's ICE Futures Europe. In the March/23 contract, trading was US$ 540.60 a ton, up by US$ 3.50. The May/23 contract registered a positive variation of US$3.20, trading at US$526.70 a ton. A 50 kilo bag of crystal sugar was negotiated by the mills for R$ 140.64. Crystal sugar prices rose by a good 1.16% compared to the previous day, according to data from USP's ...

Source: Portal Do Agronegocio