World sugar prices have slightly increased in New York and London: exchange data.

According to Barchart data, during the March session in New York, the price of world sugar grade 11 SBH24 rose by 0.02 to the level of 22.28 (+0.09%), while London white sugar ICE grade 5 SWK24 closed at 625.50 (+0.10%), increasing by 0.60. Sugar prices edged slightly higher on Wednesday after a decline in the dollar led to the covering of short positions in futures markets. Last week, sugar faced pressure due to increased production in Brazil. As reported by Unica last Thursday, sugar production in the Center-South region of Brazil increased by 68.5% in the second half of January, reaching 28,000 tons. In January, sugar production in the current agricultural year 2023/24 increased by 25.5% to 42.129 million metric tons. It is worth noting that more sugarcane is used for sugar production than for ethanol: in the current agricultural year through January, the sugarcane processing rate for sugar production was 49.04%, compared to 45.95% a year earlier.