Εισαγωγικό κείμενο
- 01 May 2023
- timeliness
Crude sugar futures on the ICE exchange rose to an 11-year high today, M. Tuesday, with supplies constrained by lower-than-expected production in several countries including India, Thailand and China.
According to Reuters, raw sugar for May delivery was 1.6% higher at 23.91 cents a pound, after reaching 24.15 cents - the highest level since April 2012.
Fewer crops in the top three Asian sugar-producing countries will leave the market heavily dependent on Brazil, and there are concerns that the flow of supplies from the world's top exporter could be disrupted due to congestion.
Centre-South Brazil is expected to produce the second highest amount of sugar on record this season. However, there are concerns about whether Brazil will be able to export all that supply, with logistics difficulties following record domestic soybean and corn production, ING said in a note.
