World sugar prices are rising

October sugar-raw has increased by 0.26 cents per pound, due to the potential global deficit in the upcoming season.

10 August 2023

October raw sugar SBc1 rose 0.26 cents, or 1.1%, to 23.71 cents a pound, according to the Nasdaq.

Dealers said the market had recovered much of the previous session's losses, fueled by speculation of a likely global deficit in the upcoming 2023/24 season.

Some sugar market analysts are expecting a second consecutive global deficit next season as they bet Brazil's near-record production will not be enough to make up for falling production elsewhere.

Broker HedgePoint Global Markets raised its valuation of Brazilian sugar to a record high on Wednesday.

October white sugar LSUC1 rose $7.60, or 1.1%, to $687.10 per ton

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Source: Sugar.Ru

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World sugar prices are rising

October sugar-raw has increased by 0.26 cents per pound, due to the potential global deficit in the upcoming season.

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