Prices for sugar are fluctuating: a decrease in New York, an increase in exports due to the weakness of the Brazilian currency.

On Wednesday, the March world sugar No. 11 in New York (SBH24) closed down by -0.05 (-0.24%), while the March London white sugar ICE No. 5 (SWH24) ended the day with a decline of -4.20 (-0.69%). This information is reported by the resource Barchart.

Sugar prices on this day gave up initial gains and showed modest losses. Weakness in the Brazilian real (^USDBRL) is putting pressure on sugar prices. On Wednesday, the real fell to a two-week low against the dollar, leading to increased export sales by Brazilian sugar producers.

Initially, sugar prices rose on the back of optimistic data received on Tuesday. There were signs of reduced sugar production in India after reports from the National Federation of Cooperative Sugar Factories. According to their data, sugar production in India from October 1 to December 31 fell by 7.6% year-on-year, amounting to 11.2 million tons.