Raw sugar futures on ICE fell more than 3% on 22 April to a three-week low of 19.24 cents per lb, weighed by an improving outlook for crops in India and Pakistan and macroeconomic factors, while August white sugar fell 2.0% to US$530.50 a tonne. The sway in crude oil price and US$/Brazilian Real exchange rate is having a moderating impact on sugar price as these dictate millers’ decisions to divert cane to ethanol or sugar. On 22 April, Brent crude inched lower at US$107.86 a barrel and US light crude (WTI) at US$103.6. But this is unlikely to discourage… Login to continue

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