Information from commodity exchanges last Thursday shows that the October futures for raw sugar No. 11 in New York (SBV25) gained 0.18 cents in price (16.74; +1.09%) and reached a new peak in 1.5 months. According to a report from Barchart, the October contract for refined sugar No. 5 in London (SWV25) rose by $5.50 (484.00; +1.15%).
The price increase is related to speculations about possible increase in sugar consumption in the United States. According to information from Bloomberg Intelligence, U.S. President Donald Trump stated that Coca-Cola has agreed to replace corn syrup with refined sugar in its drinks for American consumers. It is assumed that this may lead to an increase in sugar demand in the U.S. by 4.4%, from 11 million tons to 11.5 million tons.