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Barchart
Barchart
Rich Asplund

Sugar Settles Higher on Production Concerns in Brazil

Brazil Unica India Thailand the Indian Sugar and Bioenergy Manufacturers Association USDA

October NY world sugar #11 (SBV24) on Monday closed up +0.59  (+3.20%), and Oct London ICE white sugar #5 (SWV24) closed up +10.00 (+1.90%).

Sugar prices on Monday jumped to 1-week highs on concerns about Brazil's sugar production.  Unica reported last Thursday that Brazil's Center-South sugar output in the first half of July fell -9.7% y/y to 2.939 MMT.  However Center-South sugar production in the marketing year through mid-July was still up by +10.4% y/y at 17.140 MMT.

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