The rise in sugar prices due to drought conditions in Brazil has caused a monthly high on the London Stock Exchange.

During the previous trading session, May raw sugar No. 11 in New York (SBK24) closed with a gain of +0.29 (22.06; +1.33%). May white sugar ICE No. 5 in London (SWK24) also showed a moderate increase, closing at +11.20 (640.00; +1.78%). This information is reported by the resource Barchart.

Prices for sugar this time showed a moderate growth. Special attention should be paid to the rise in sugar prices in London, which have reached a monthly maximum. According to analysts, the reason for such growth is concern due to dry conditions in Brazil. Weather forecasts indicate a lack of precipitation in the central and southern regions of Brazil, where the majority of sugar is produced.