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Prices for sugar are rising due to a decrease in production in Brazil.
agricultural products
Sugar

Prices for sugar are rising due to a decrease in production in Brazil.

In New York, the price of October raw sugar No. 11 increased by +0.12 (19.49; +0.62%), while in London, the price of October white sugar No. 5 rose by +10.10 (541.80; +1.90%). The price increases are due to the forecast of reduced sugar production in Brazil due to drought and fires.

Covrig Analytics has increased its estimate of sugar deficit for the 2024/25 year.

4 September 2024 4 September 2024

Currently, in New York, the price of October world sugar No. 11 (SBV24) has increased by +0.12 (19.49; +0.62%). Additionally, in London, the price of October white sugar No. 5 (SWV24) rose by +10.10 (541.80; +1.90%), according to information from Barchart.

Today, sugar prices slightly increased due to a reduction in the sugar production forecast in Brazil Center-South for 2024/25 from Czarnikow, from 40.0 million tons to 39.2 million tons due to drought and fires. Covrig Analytics also raised its estimate of the global sugar deficit for 2024/25 from -300,000 tons to -600,000 tons.

 

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