With the prospect of a drop in production in India, sugar prices close Monday with appreciation on the New York Stock Exchange
Sugar
United States
Published Feb 28, 2023
Tridge summary
In this Monday's session (27th), sugar futures closed with new highs on the New York and London Stock Exchanges. The March/23 raw sugar contract ended with an appreciation of 0.81%, trading at 22.09 cents/lbp. The May/23 contract registered an increase of 0.62% in which it closed quoted at R$ 20.29, while the July/23 contract ended at 19.71 with a gain of 0.48%. On the London Stock Exchange, the future price of the May/23 contract for the white type ended the day with a gain of 9.30% and quoted at US$ 571.30 a ton. The August/23 maturity registered an increase of 8.10% and was negotiated at US$ 555.50 a ton. Still according to information from Reuters, the prospects of falling production in India contributed to the high sugar prices in this session.
Original content
“India is expected to produce 33.5 million tonnes of sugar in the season to 30 September this year, down 2.9% from the previous forecast which was close to 34.5 million tonnes, a leading body said. trade on Monday after unfavorable weather hit cane production,” Reuters reported. Intern market In the survey carried out by Cepea, sugar prices showed distinct upward movements in the state of São Paulo. In the previous closing, crystal sugar was priced at R$ 133.27 per bag and had a gain of 0.96%. In the case of Cristal Empacotado ...
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