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Sugar prices rise before cautious investors

Sugar prices rise before cautious investors

Havana, Sep 27 (Prensa Latina) The prices of raw and refined sugar in New York and London, respectively, rose in the last week amid the caution of investors and analysts, Cubazúcar reported here.
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At the end of operation in the first of these markets, the raw sugar contract, for delivery in October, was set at 19.10 cents a pound, with gains of 31 points, said that company of the Ministry of Foreign Trade and Investment.

Operations oscillated in the range of 18.81 and 19.55 cents per pound.

According to Cubazúcar, investment funds are probably in a state of liquidation, in a context of limited rise in prices for the moment.

The market managed to rebound towards 20.40 cents a pound, although it has struggled to push higher and challenge the four-and-a-half-year highs reached in late August.

On the other hand, in London, refined or white sugar, for delivery in December, ended the week at $ 504.30 per metric ton (MT), which represented an increase of $ 16.70.

The prices in that position moved in a range between 495.9 and 514.8 dollars per MT.

The prices of the sweetener in both markets were boosted, among other factors, by forecasts of lower production in Brazil, the rise in oil prices and the world deficit of sucrose.


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