Features International Sugar Journal

Monthly Snapshot June [Full subscriber]

Market Analysis For the foreseeable future, it is apparent that Covid-19 pandemic’s impact on all walks of life is also distorting the sway of market fundamentals. On 21st May, the July raw sugar was, at 11.27 cents per lb by 1315 GMT after peaking at 11.32 cents, the highest level for the front month since March 27. As Agri Commodities Strategist Tobin Gorey at the Commonwealth Bank of Australia rightly points out “The rally… suggests the market is placing a greater value on having access to supply. Brazil’s handling of the COVID-19 epidemic is part of this worry”. Indeed, with…

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