Features International Sugar Journal

Monthly Snapshot August [Full subscriber]

New York’s October raw sugar futures were down 0.75% to 18.53 cents per lb on July 21, while the white sugar fell slightly to US$535.40. Various dynamics are currently in play, swaying the market along a gentle wave. Dealers said it is difficult to see sugar prices rising in the short term after Brazilian oil giant Petrobras cut gasoline prices at its refineries by -4.9% to 2.86 reais (US$0.72) per litre, a move that tends to prompt Brazil’s mills to ramp up sugar output at the expense of ethanol, a cane-based biofuel. Brazil’s ethanol price is below the sugar equivalent…

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