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Prices for sugar are falling due to the expected increase in production in Brazil, where more and more sugarcane is being turned into sweet treats.
agricultural products
Sugar

Prices for sugar are falling due to the expected increase in production in Brazil, where more and more sugarcane is being turned into sweet treats.

On the New York Stock Exchange, the price of sugar #11 fell by 0.46%, while London white sugar ICE #5 dropped by 13.70%. The reason for this was optimism regarding abundant sugar production in Brazil. Production increased by 11.8% to 7.837 million tons during the period from April to May.

18 June 2024 18 June 2024

On the New York Sugar Exchange #11 (SBN24) today marked a decrease of -0.46 (19.06; -2.37%). The August London White Sugar ICE #5 (SWQ24) also showed a decline of -13.70 (548.50; -2.44%). This was reported by Barchart.

The reason for the decline in sugar prices is the growing optimism about the prolonged and abundant sugar production in Brazil - the world's largest producer. Last Friday, Unica rightly reported a 11.8% increase in sugar production in Brazil during the 2024/25 agricultural year from April to May, leading to production of 7.837 million tons. In addition, the share of sugarcane crops processed into sugar in Brazil in the current 2024/25 year is 47.88%, which is 1.2% more than last year.

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