Sugar prices in Vietnam turned lower after hitting a 12-year high

Market & Price Trends
Published Oct 5, 2023

Tridge summary

The price of sugar decreased by 2.93% last week due to profit-taking selling and increased supply in Brazil. Despite concerns about low sugar output in India and Thailand, sugar prices remain high. In the domestic market, sugar prices in Vietnam have maintained a high level, and the sugar market is expected to remain positive in the coming crop year due to increased planting and trade defense measures.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Source: Specifically, the price of sugar 11 decreased by 2.93% last week with 3/5 sessions in the red. MXV said that profit-taking selling combined with positive supply in Brazil caused the price to be unable to maintain its upward momentum for the 6th consecutive week and lost its highest price in 12 years. Sugar output in the South Central region of Brazil in the first half of September reached 3.12 million tons, up 8.54% over the same period last year, according to industry group UNICA. Thus, from the beginning of the crop year until now, Brazil's total sugar output increased by 20% over the same period to 26.1 million tons, while the volume of sugarcane crushing increased by 10.9% to 406.6 million tons. However, concerns about low sugar output in India and Thailand, especially the risk of banning India's sugar exports for the 2023/24 crop year, have caused sugar prices to decrease slightly but still remain high. Since the beginning of the year until now, sugar ...
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