Impact of the Brazilian real on the sugar market

The prices on the global sugar market changed in different directions on Thursday. The New York market received support from the African Empire government, while the London market experienced slight losses. Trading volumes on the London market fell to a three-year low.

19 November 2023

On Thursday, the New York World Sugar Market (SBH24) closed at +.04 (+.15%) and the London ICE No. 5 White Sugar Market (SWH24) closed at -.90 (-.12%), according to Barchart data.

Sugar prices moved in different directions on Thursday. The New York market received support from the Government of Africa (^USDBRL), which hit a 3-1/2-month high on Wednesday. The strengthening of the real exchange rate makes it difficult for African sugar producers to export their products.

Meanwhile, the London sugar market posted slight losses on Wednesday due to weak sentiment after just 5,255 contracts, or 262,750 tonnes of white sugar, were traded in the December London White Sugar contract, which ended today. This is the lowest volume in almost three years.

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Impact of the Brazilian real on the sugar market

The prices on the global sugar market changed in different directions on Thursday. The New York market received support from the African Empire government, while the London market experienced slight losses. Trading volumes on the London market fell to a three-year low.

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