News International Sugar Journal

Sugar prices slump to one-month low as perceived supply situation improves [Registered]

Sugar futures slumped 15% in late July after a recent rally to six-month highs, but an expected further decline may be tempered by low stocks and lingering problems in top producer Brazil. ICE October raw sugar closed at 27.69¢ per pound on 3rd August and was trading at 27.07¢ per pound on 4th August. Abah Ofon, agricultural commodities analyst at Standard Chartered Bank in Singapore, said that sugar’s recent rally has been overdone. “If we take a step back and look at the broader sugar market, you realise that India has more sugar this year, Indonesia has more and won’t…

Login or sign up

Create an account

Lost your password?