Starting our review of last week's European commodities performance with White Sugar #5 (SWQ24), +7.20%, Unica (Brazil Sugar Group) reported last Friday that Brazil´s production in its main regions was 22% higher than the previous year. Although that caused a temporary price drop, it did not change the long-term bullish trend. Dry weather conditions in the region are still keeping the market worried.
Indian regulators imposed sugar export restrictions since last October triggered by concerns regarding a new crop disease and below-normal monsoon rain. It is expected that the government will keep such restrictions, which is supportive of prices.
