Sugar market: world prices are rising against the background of heat in Brazil, in Ukraine they are falling

Sugar stock prices continued to rise this week on forecasts of dry and hot weather in Brazil's sugar-producing regions. This is reported by GrainTrade. On the London Stock Exchange, October white sugar #5 futures for the week rose 6.7% to a 5.5-month high of $555/t (+10% for the month), and cane sugar #11 rose 13, 7% to the highest level since September of $21.16/lb or $466/t (+17% for the month). According to forecasts, dry and hot weather will prevail in the states of São Paulo and Mato Grosso in the next two weeks, which will reduce the yield of sugar cane. In August, the heat in the country led to severe fires that damaged up to 5 million tons of cane in the main sugar-producing state of São Paulo. The strengthening of the real against the dollar to a 4-week high also supports the quote as it hampers sugar exports from Brazil. Read also: 240,000 tons of sugar are planned to be produced in Ternopil Oblast this year Rising oil prices will lead to higher ethanol prices and lower ...