Sugar prices continue to fall, with reductions exceeding 1% in NY and London this Monday

Sugar futures are experiencing a decline on the New York and London stock exchanges, despite positive news from India's harvest and a smaller than expected harvest in India. The price drop is largely due to the favorable weather conditions in Brazil, which have aided in the recovery of sugarcane fields. The March/25 contract in New York was quoted at 18.88 cents/lbp, down 1.77%, and May/25 showed a 1.49% decrease to 17.80 cents/lbp. Similarly, in London, the March/25 contract fell 1.77% to US$494.60.

Sugar futures remain down on the New York and London stock exchanges on Monday afternoon (13). According to Reuters, despite positive news for the price in relation to the Indian harvest, the recovery of sugarcane fields in Brazil is a crucial factor in the reduction in prices. “Traders said that the favorable weather in Brazil helped to lower prices recently, although the market was supported by a smaller than expected harvest in India,” points out the international agency. At around 1 pm (Brasília time), in New York, the March/25 contract was quoted at 18.88 cents/lbp, registering a reduction of 0.34 cents (-1.77%) in relation to the previous closing. May/25 showed a drop of 0.27 cents (-1.49%), traded at 17.80 cents/lbp. July/25 was trading at 17.44 cents/lbp, down 0.26 cents (-1.47%), while October/25 was down 0.22 cents (-1.24%), trading at 17.51 cents/lbp. In ...