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Showing posts from June, 2021

Global Sugar Outlook R

  Price Outlook: Raw sugar and Arabica coffee futures on ICE closed lower on some showers forecast in drought-hit Brazil over the next few days and profit taking by funds.                               ·          July raw sugar (SBc1) settled down 0.33 cent, or 1.9%, at 17.38 cents per lb.      ·          August white sugar (LSUc1) settled down $7.20, or 1.5%, at $459.30 a tonne.      ·          The weather in the Centre-South region of Brazil remained a focus with some showers forecast this week although overall conditions remain dry.      ·          Lower energy prices can lead to more use of cane to make sugar rather than biofuel ethanol, particularly in Brazil.   Factors affecting Brazilian Sugar Cane supplies are already tight due to a severe drought that has been ravaging yields in Brazil. Cane-crushing dropped 31% in the first half of April compared to a year ago. ·          The global sugar supply crunch is about to get worse amid a food-versus-fuel debate playing out in top ex