World raw sugar prices fall to lowest level since 2021
Raw sugar prices fell to their lowest since the summer of 2021 on expectations of a resumption of Indian exports and a favorable Brazilian harvest, according to a report by the market monitoring service Trading Economics.
In the Intercontinental Exchange (ICE) New York futures, the price of raw sugar per pound (45.36 decagrams) fell by 2.5 percent to 17.77 cents.
The price drop was due to the fact that India, the world’s second-largest sugar producer, has allowed a sugar export quota of 1 million tons for the current agricultural year ending at the end of September.
The resumption of exports was made possible by the fact that the country expects to produce more than 27 million tons of sugar in the agricultural year.
In Brazil, the world’s leading sugar producer, the weather is favorable for sugarcane plantations, which is why experts have revised their crop outlook forecasts. Moreover, falling ethanol prices are forcing producers to use more cane for sugar production instead of biofuel production.
Related news
Distant but open door: Hungarian companies see opportunities in Uzbekistan
Although geographically and culturally distant, Uzbekistan could be one of…
Read more >Lidl Italia Has Invested Over €2.1bn In Italy In Past Five Years
Lidl Italia has invested over €2.1 billion in Italy over…
Read more >EU Agri-Food Trade in January 2025: Rising Imports Outpace Export Growth
High commodity prices drive surge in imports, reducing the EU’s…
Read more >Related news
A new era in the global economy? – New challenges for our country
May 2025 brought an acceleration of change in the global…
Read more >This is how you can keep your hair and skin healthy during the approaching summer heatwave
Styling, dyeing and blow-drying can all weaken the internal structure…
Read more >New cycle, stable operation, unchanged direction – ÖRT management has received trust
The General Assembly of the Hungarian Self-Regulatory Advertising Board (ÖRT)…
Read more >