News International Sugar Journal

Reduction in raw sugar prices could see a demand revival [Registered]

Physical sugar demand could pick up if raw sugar prices, which traded in February at a 30-year high, drop below three-month lows to test critical support around 27¢ to 27.50¢ a pound. “It will be interesting to see if people bet on that support level to buy,” said one veteran European sugar broker. Sugar futures slid with other commodities after a huge earthquake and tsunami struck Japan on 18 March ’11. Physical sugar demand has been subdued recently due to high prices, which were underpinned by tight global supplies and low stocks. But now a growing sentiment that agricultural commodity…

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