At the close of trading on Tuesday, the July world sugar futures No. 11 in New York (SBN24) rose by 0.32 (18.73; 1.74%). Also, the August futures for London white sugar ICE No. 5 (SWQ24) closed at 553.50, showing an increase of 7.60 (1.39%). Leading financial website Barchart reports these data.
On Tuesday, sugar prices rose at a moderate pace, with the price of sugar in New York reaching the highest level in the past one and a half weeks. This increase is attributed to the fact that the recent decline in sugar prices has led to increased demand for this commodity. According to experts at Green Pool Commodity Specialists, several major sugar-consuming countries, including China - the world's largest sugar importer, increased imports after the price fell to the lowest level in a year and a half.