• Prices in the last fortnight have remained range bound, fluctuating around 340USD/mt. 
  • On the one hand, the market is pressured by: 
    • Global sugar stocks having been at record levels earlier this season. 
    • Slow demand causing decade low offtake of Brazilian sugar. 
    • At least 5m tonnes of producer selling to come in the next five months. 
  • However, at current market levels India is unlikely to be able to export as much as initially feared, reducing refined availability. 

No.5 Price

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Will Langston

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