US: Sugar in NY has a mixed close, but production concerns remain in India

Sugar

India

United States

Published Feb 22, 2023

Tridge summary

Sugar futures prices ended the session this Tuesday (21) with mixed prices in NY. The March maturity dropped 0.4% and closed at 21.33 cents/lb. The other contracts had a positive day with May at 19.93 cents/lb and July at 19.42 cents/lb.

Original content

According to an analysis by the international website Barchart, sugar prices have been supported since last Friday (17), when India said it would not allow additional exports of the product beyond the 6.1 MMT already authorized for this season. The government is concerned that a smaller sugar crop in that country could restrict domestic supply this year, so it has decided not to allow additional exports. India is the world's second largest producer of sugar. On Reuters, traders said that sugar, despite the minor setback, continues to draw support from rumors that production in India will fall rapidly this season as cane matures early and loses weight. In addition, information ...

Source: NoticiasAgricolas

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