According to traders surveyed by Reuters, the fear over a likely declining production in nations like China, India, Thailand, and the European Union led to an increase in sugar prices this Thursday (16). “Traders also warned that shipping delays from the Paranaguá port in Brazil could hinder the flow of sugar and soy”. Given this situation, raw sugar contracts expiring on May 23 increased 26 points, or 1.3%, over the previous day’s prices to contract at 20.76 cents per pound on the New York Stock Exchange. The July 23 screen increased 23 points to trade at 20.23 cents a pound. The upward swing for the other lots ranging from 13 to 18. The Cepea/Esalq Indicator indicates that crystal sugar also closed higher on the domestic market. A 50-kilogram bag was traded today at BRL 132,68 compared to BRL 132,11 on Thursday, representing a 0.43% increase in value. The monthly variation remains negative at 0.61%.
Source: Agrolink (*Translated by Ia Niani)