Global sugar prices start the week high on news of crop failure in India

In New York, on ICE Futures, raw sugar, maturing in March/23, was contracted yesterday at 19.55 cents per pound, an appreciation of 7 points compared to Friday's prices. The May/23 screen rose 10 points, trading at 18.43 cts/lb. The other lots closed with gains between 13 and 22 points. In London, at ICE Futures Europe, Monday was also high for all lots of white sugar. The maturity March/23 rose by 6.20 dollars, negotiated at US$ 539.10 a ton. On the other hand, the May/23 screen valued at US$3.60, contracted at US$525.40 a ton. The other contracts rose between 2.80 and 4.50 dollars. According to Reuters, based on production data from India, "the crop was similar to last year, but when we started harvesting, we noticed that the productivity was very low", said the producer in Solapur district, Pradip Jagtap, in the state of Maharashtra, India's biggest sugar producer. On the domestic market, Monday saw a rise in crystal sugar prices measured by the Cepea/Esalq Indicator, from USP. ...