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Barchart
Barchart
Rich Asplund

Fire Damage to Brazil Sugar Crops Underpins Prices

Brazil India ISM Thailand Drought London USDA

October NY world sugar #11 (SBV24) today is up +0.28 (+1.43%).  Oct London ICE white sugar #5 (SWV24) is up +10.30 (+1.89%).

Sugar prices today are moderately higher and posted 6-week highs.   Sugar prices are underpinned by massive fires in Brazil caused by drought and excessive heat that have damaged sugar crops in Brazil's top sugar-producing state of Sao Paulo.  Sugar cane industry group Orplana said that over the past weekend, as many as 2,000 fire outbreaks affected as much as 80,000 hectares of planted sugarcane in Sao Paulo.  Green Pool Commodity Specialists said that as much as 5 MMT of sugar cane may have been lost due to the fires.

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