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Barchart
Barchart
Rich Asplund

Sugar Posts Moderate Gains as India Maintains Sugar Export Restrictions

India Thailand London NY Brazil the International Sugar Organization Unica USDA

July NY world sugar #11 (SBN24) on Monday closed up +0.44 (+2.32%), and Aug London ICE white sugar #5 (SWQ24) closed up +11.90 (+2.13%).

Sugar prices Monday posted moderate gains, with NY sugar climbing to a 1-week high and London sugar rising to a 6-week high.  Sugar rallied Monday on the outlook for India to keep its sugar export restrictions in place after the Indian government said there is no proposal to review its sugar export restrictions.  Below-normal monsoon rain in India is also bullish for sugar prices after the Indian Meteorological Department reported last Friday that India received 64.5 mm of rain over the first 18 days of June, compared with the long-term average of 80.6 mm.  

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