Sugar price is almost stable on ICE in Brazil, with March contract at 19.62 cents per pound

Published Dec 2, 2022

Tridge summary

The article highlights the stability of sugar futures prices on ICE, with the raw sugar contract for March barely changing at 19.62 cents per pound, and the white sugar contract for March closing at US$ 538.40 per ton. This stability is attributed to heavy rainfall in Brazil's South and Southeast, which could negatively affect the sugarcane harvest and sugar loading operations. Despite this, Brazil's sugar exports hit a high of 4.07 million tons in November, a 53% increase from the previous year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The prices of sugar futures traded on ICE underwent little change this Thursday, the 1st. The raw sugar contract maturing in March was practically stable at 19.62 cents per pound. The market continued to be supported by a prolonged period of rain in the South and Southeast regions of Brazil, which should harm the progress of the sugarcane harvest and also impact sugar loading operations in Paranaguá (PR), the second main port in the country. Brazil exported 4.07 million tons of sugar in November, 53% more ...

Source: Novacana