Prices for sugar have sharply dropped due to forecasts of upcoming rains in a major production region in Brazil.

Prices for the world sugar No. 11 have decreased by 3.59%, and for London white sugar No. 5 by 2.44%. The reason is the forecast of rain in Brazil, which eased concerns about drought and stimulated futures sales.

17 October 2024

On Wednesday, prices closed at -0.82 (22.00; -3.59%) for March world sugar No. 11 (SBH25) and at -14.10 (571.40; -2.44%) for December London ICE white sugar No. 5 (SWZ24), as reported by Barchart.

Sugar prices retreated from weekly highs on Wednesday and sharply declined. Expectations of rainfall in Brazil eased concerns about drought and stimulated the selling of sugar futures. According to Climatempo, heavy rain is expected in the Central-Southern region of Brazil, the country's largest sugar-producing region, starting this weekend.

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Prices for sugar have sharply dropped due to forecasts of upcoming rains in a major production region in Brazil.

Prices for the world sugar No. 11 have decreased by 3.59%, and for London white sugar No. 5 by 2.44%. The reason is the forecast of rain in Brazil, which eased concerns about drought and stimulated futures sales.

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