World: Sugar rises again in international markets and approaches a 6-year high

Published 2023년 2월 3일

Tridge summary

India's sugar production for the current harvest has reached 21.6 million tons, a 6% increase from the previous season, according to the harvest balance. In contrast, Brazil is facing logistical challenges in sugar production due to an abundant grain harvest. Both raw and white sugar prices have increased on international markets, with raw sugar hitting 21.66 cents per pound and white sugar at $566.80 a ton. However, crystal sugar prices in Brazil have slightly decreased, while hydrous ethanol prices have dropped for the fourth consecutive day.

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

Original content

Yesterday, India's harvest balance indicated that the country produced 21.6 million tons of sugar since the beginning of the current harvest, which took place on October 1st. In accumulated terms, the harvest is 6% higher than that registered in the same period of the previous season. In Brazil, the concerns are related to the flow of national production, since, according to the executive president of trading Alvean, the country is experiencing a logistical bottleneck, with sugar competing in ports, highways and railways, with an abundant grain harvest. . In New York, on ICE Futures, Thursday was high in all lots of raw sugar. The March/23 maturity was contracted at 21.66 cents per pound, an appreciation of 29 points, or 1.4%, compared to the previous day's prices. The May/23 screen rose 27 points, trading at 20.39 cts/lb. The other contracts closed valued between 24 and 36 points. In London, white sugar traded on ICE Futures Europe also closed higher for all maturities. The ...

Source: Portal Do Agronegocio