29-Oct-2024

Raw Sugar recovers from one week low, Rising Brazilian output weighs

Global Sugar futures are up today after falling in last session. The counter currently trades at 22.11 cents per pound, up 0.68% on the day. Prices fell in last session, testing one week low as traders eyed elevated sugar production in Brazil's Center-South. Unica reported last Friday that sugar output in Brazil's key Center-South region during the first half of October rose 8% on year to 2.443 Million Tonnes (MT). The cumulative 2024/25 Center-South sugar output through the first half of October also rose around 2% to 35.591 MT. The commodity had spiked around 16% in last month and witnessed a steady movement in October. Prices had tested near two month low in August 2024.

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