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  • White sugar prices soared to $370/mt over the last fortnight.
  • It seems these higher prices are here to stay in the short term, with refined sugar in short supply.
  • But the coronavirus pandemic means sugar consumption will fall year-on-year in 2020.
  • With this, we could see industrial food and beverage consumers deferring shipments of refined sugar later on in the year.
  • This prospect makes the white premium and white sugar spreads vulnerable to weakness.
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Will Langston

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