Prices for sugar are rising due to the strengthening of the Brazilian currency: NY World Sugar and London ICE White Sugar are going up.

NY World Sugar closed up by +0.27 (+1.51%) reaching $18.14, while London ICE White Sugar rose by +6.90 (+1.36%) to $514.50 due to the strengthening of the Brazilian real. This led to a halt in sugar exports by Brazilian producers.

8 August 2024

On Wednesday, October NY World Sugar #11 (SBV24) closed higher at +0.27 (18.14; +1.51%), while October London ICE White Sugar #5 (SWV24) ended up with an increase of +6.90 (514.50; +1.36%), according to Barchart.

Sugar prices saw moderate growth on Wednesday due to the strengthening of the Brazilian currency (USDBRL). The short-term closing of sugar futures trades happened after the real reached a weekly high against the dollar, pushing Brazilian sugar producers away from export sales.

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Prices for sugar are rising due to the strengthening of the Brazilian currency: NY World Sugar and London ICE White Sugar are going up.

NY World Sugar closed up by +0.27 (+1.51%) reaching $18.14, while London ICE White Sugar rose by +6.90 (+1.36%) to $514.50 due to the strengthening of the Brazilian real. This led to a halt in sugar exports by Brazilian producers.

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