Raw sugar likely to be in 18-20 cent/lb range in 2022, StoneX says

Reuters via Nasdaq
  -  
Wednesday, December 8, 2021
Raw sugar prices on ICE will be in a range of 18 to 20 cents per pound in 2022, broker StoneX estimated on Wednesday, saying larger production from key countries and a less urgent demand would limit the upside. Despite projecting a third consecutive global supply deficit in the 2021/22 season, which runs from October to September, at 1.8 million tonnes, the brokerage said during an outlook seminar organized by Sugaronline that higher production in India, Europe and Thailand, and a better outlook for the new Brazilian season, would cap prices.
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