USA: Sugar starts the week with significant losses on the NY and London stock exchanges
Sugar
United Kingdom
United States
Published Mar 13, 2023
Original content
Sugar futures prices operate with a sharp drop on the New York and London stock exchanges this Monday morning (13). The market starts the week following oil, in addition to being optimistic about the crop in the Center-South region of Brazil. At around 8:34 am (Brasília time), raw sugar was down 0.90% in the main contract on the New York Stock Exchange (ICE Futures US), at 20.97 cents/lb. In London, the low was 1.10%, at US$ 583.40 a tonne. The sweetener market follows losses of more than 1% of oil in the external scenario this Monday, which impacts on fuel prices and also on the decision of mills on the production of sugar or ethanol. In addition, positive information about the 2023/24 crop in the Center-South of the country permeates the negotiations. However, there is attention to Asian origins. Datagro, for example, estimated this week that the new harvest of sugarcane in Brazil should jump 6.9%, to 590 ...
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