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Prices for sugar are rising after a dip: China is increasing imports.
agricultural products
Sugar

Prices for sugar are rising after a dip: China is increasing imports.

Prices for sugar in New York and London have risen against the backdrop of increased demand following a drop in prices. Consumers, including China, are increasing imports due to minimum prices in a year and a half.

21 June 2024 21 June 2024

Tuesday was fruitful for July raw sugar No. 11 in New York (SBN24), as it closed on a positive note with a gain of +0.32 (18.73; +1.74%). August white sugar ICE No. 5 in London (SWQ24) also fared well, closing at +7.60 (553.50; +1.39%). These data are provided by the Barchart website.

Sugar prices demonstrated a moderate increase on Tuesday, reaching the highest level in a week and a half. The rise in sugar prices was driven by increasing demand following a recent decline in prices. It is important to note that several major sugar consumers, including China - the world's largest sugar importer, increased imports after prices fell to a year-and-a-half low, according to Green Pool Commodity Specialists.

 

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