Prices for sugar are rising due to the strengthening of the Brazilian real: analysis of futures on global exchanges.
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Sugar

Prices for sugar are rising due to the strengthening of the Brazilian real: analysis of futures on global exchanges.

World sugar prices are rising: sugar futures #11 in New York rose by 0.63% to reach 22.36, while London white sugar ICE #5 increased by 0.46% to reach 650.70. The reason for this is the strengthening of the Brazilian real, which complicates sugar exports.

28 June 2024 28 June 2024

On Thursday, the closing of May futures for world sugar No. 11 in New York (SBK24) showed a moderate increase of +0.14 (+0.63%), reaching 22.36. Also, May London white sugar ICE No. 5 (SWK24) closed with a significant rise of +3.00 (+0.46%), reaching 650.70. This information is reported by Barchart.

Prices for sugar on Thursday are moderately rising. The reason for the increase in sugar futures is the strengthening of the Brazilian real (^USDBRL), as the real has reached a weekly maximum against the dollar. The strengthening of the real makes it difficult for Brazilian sugar producers to make export sales.

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