Brazilian mills have hedged approximately 84% of their projected sugar exports for the 2024-25 season or nearly 22.8 million tons of the total volume expected to be shipped during the crop year. According to Archer Consulting, the mills locked in an average price of 21.94 cents per pound, while the raw sugar contract on ICE closed at 19.60 cents. This hedging strategy is similar to the one used last year, which shows stability in the process.
Source: Reuters / RPA News (*Translated by Ia Niani)
BRAZILIAN MILLS HAVE HEDGED 22.8 MILLION TONS FOR THE 2024-25 SEASON
Published On - 16 de May de 2024