Sugar falls after a series of increases and monitors production cuts in Brazil and India

This Friday (14), the sugar market will give back part of the gains accumulated in recent days. On the New York Stock Exchange, the May/25 contract is quoted at 19.18 cents per pound, a drop of 0.36% compared to the previous closing price. The July/25 contract is down 0.32%, trading at 18.92 cents. In London, prices are also registering losses, with the May/25 contract at US$ 536.70 per ton (-0.37%), while the August/25 contract is trading at US$ 522.50 (-0.36%). Figures from the Sugarcane Industry Union (Única), released on Thursday (13), showed a 5.58% drop in sugar production in the Center-South of Brazil since the beginning of the harvest until March 1, compared to the same period last year. Production totaled 39.82 million tons, compared to 42.18 million tons in the previous cycle. In India, the Indian Sugar Mills Association reduced its production projection to 26.4 million tons through September, a 2.94% drop from the previous estimate of 27.2 million tons. On Tuesday ...