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Barchart
Barchart
Rich Asplund

Sugar Rallies on Signs of Improved Demand

NY Thailand Brazil India London Unica USDA

July NY world sugar #11 (SBN24) on Tuesday closed up +0.32 (+1.74%), and Aug London ICE white sugar #5 (SWQ24) closed up +7.60 (+1.39%).

Sugar prices posted moderate gains on Tuesday, with NY sugar climbing to a 1-1/2 week high.  Sugar moved higher on signs that the recent drop in sugar prices sparked a surge in sugar demand.  According to Green Pool Commodity Specialists, several large sugar-consuming countries, including China, the world's largest sugar importer, have boosted sugar imports after the recent slump in prices to a 1-1/2 year low.

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