Brazil: Sugar ends week close to 21 cents/lb amid crop fears in India
Sugar
Brazil
Published Mar 4, 2023
Original content
Sugar futures prices closed this Friday's session (03) with a significant rise in the New York and London stock exchanges. The sweetener market was mainly supported by concerns about the 2022/23 crop in India. However, there are still bearish factors that are being monitored. The most traded maturity of raw sugar on the New York Stock Exchange rose 3%, at 20.92 cents/lb, with a high of 21.04 cents/lb and a low of 20.32 cents/lb. In London, the first contract rose 2.72% on the day, at US$ 588.40 a tonne. In the week, the US market fell by more than 5%. Even so, the level of 21 cents/lb was resumed in the market this Friday with main support from India due to the weather. Dozens of mills in the state of Maharashtra, the main producer, have already stopped crushing sugarcane. The news about the finalization of the milling is worrying because the crop in the Asian country officially ends in September. Despite this, in Brazil, the market is optimistic about the 2023/24 crop in the ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.
To learn more about our cookies, please read our Privacy Policy.