Sugar: Record Exports Defy Brazil’s Drought
Sugar prices recently dropped to 23.01 ct/lb for the March contract, equivalent to €0.51/kg. Despite severe drought and wildfires in Brazil affecting production, the country achieved record sugar exports, keeping prices stable despite production constraints.
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Forecast
Volatility remains high, but with increasing exports from Brazil and production limits, sugar prices may fluctuate, depending on supply and demand dynamics.Click here to reach our trading platfrom CMBroker