Dynamics of prices for raw sugar and market forecasts

March raw sugar prices SBc1 rose .32 cents, or 1.6%, to 20.90 cents per pound. This comes after a loss of 5.4% last Friday. Raw sugar rose 3% last year, helped by strong production in Brazil offsetting poor harvests in India and Thailand. However, sugar production from Indian mills declined by 7.6% in the last quarter of 2020 compared to the previous year. Dealers also noted a lack of rainfall in Brazil at the end of the year, but forecast higher humidity in January. At the same time, the Egyptian government grain buyer plans to hold a tender for 50,000 tons of raw cane sugar and/or 50,000 tons of white sugar. White sugar prices LSUc1 also rose 1.5% to $605.00 per metric ton.