Features International Sugar Journal

Monthly Snapshot July [Registered]

Market Overview The sugar market has been weighed by the prospect of a global surplus in the upcoming 2017/18 season. Various analysts (e.g. FO Licht, Int Sugar Org, Sucden, Platts) have projected surplus at around 3 million tonnes. The July raw sugar futures fell as low as 13.29 cents/lb on June 16, the lowest price since February 2016, reflecting a 38% drop from a near three-month peak of 21.49 cents/lb as recently as February 6. Further bearish pressure on sugar price is heaped on by the announcement from the Brazilian state-run oil company Petrobras to reduce the average price of…

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