Price of unrefined sugar rising in global market

The future supply price of crude sugar has suddenly started rising in the global market due to the ongoing epidemic situation. Brazil, the world’s top producer, has seen a rise in sugar prices due to concerns over declining sugarcane production and a rise in the country’s currency. The rise in sugar prices comes amid rising prices of ethanol produced from sugarcane. News Reuters and Business Recorder.

According to a Reuters report, the contract price of unrefined sugar in July rose 0.2 percent to 18.14 cents per pound. This is the highest price increase of the product since last February. However, the contract price of white sugar in August fell 0.5 percent  478.10 dollars per tonne.

Sunbd/NJ