Monitoring Brazil, sugar increases lows this Friday

The sugar futures market is experiencing a downturn due to concerns over the Brazilian harvest and monsoon rains in India. Despite these concerns, Brazil's Center-South region has seen a significant increase in sugar processing numbers compared to the previous year. The domestic market has seen slight drops in sugar prices, with variations in pricing depending on the region.

The sugar futures market opened trading this Friday (12), extending the lows for the main contracts in the London and New York terminals. The Brazilian harvest and the monsoon rains in India continue to be on the market's radar. At around 9:15 am (Brasília time), the raw type had fallen by 0.62% and was traded for 19.30 cents/lbp. In London, the white type fell 0.57%, trading for US$554.10 per ton. Brazilian harvest numbers are pessimistic for the market and yesterday Unica announced good progress in work in the Center-South of the country. In the second half of June, production units in the Center-South region processed 48.80 million tons compared to 43.19 million in the 2023/2024 harvest – which represents an increase of 12.99%. In the accumulated result since the beginning of the 2024/2025 harvest until July 1st, crushing reached 238.40 million tons, compared to 210.48 million tons recorded in the same period in the 2023/2024 cycle – an increase of 13.27%. INTERNAL MARKET - ...