Why sugar prices go up so sharply on the futures market

Tuesday, May 11, 2021
On being asked why does sugar prices go up so sharply on the futures market in NY? Mr. Arnaldo Luiz Correa – Risk Management Consultant & Director, at Archer Consulting explained, “This has been one of the most frequently asked questions in the last few weeks. Consensus has it that the market goes up because of the drought. The sugarcane crop failure we hear so much about varies depending on the source you go to for information. There are different kinds: from 5% to 30% reduction in sugarcane production in the Center-South, in comparison to the volume produced last year. We are talking about estimates ranging from 575 to 520 million tons of sugarcane.
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