Features International Sugar Journal

Monthly Snapshot March [Full subscriber]

Market overview The perception in the market that swing in fundamentals is on the cards probably explains the gain in raw sugar prices by 4% to 13.09 cents/lb on 15th February from 12.54 cents. This in part is driven by crude oil prices continuing to rally – and by substantially more than the Brazilian Real is rising, notes Tobin Grey at Commonwealth Bank of Australia. Oil rose more than 2 percent as OPEC readied more supply cuts. Higher oil prices encourage increased use of cane in Brazil to make biofuel ethanol rather than sugar. UNICA, the Brazilian sugar industry association…

Login or sign up

Create an account

Lost your password?