On Monday afternoon (10), sugar prices were up more than 1% among the most traded contracts on the New York and London stock exchanges. As a result, the March/25 contract in NY is gaining momentum within the 19 cents/lbp range and the May/25 contract, which is close in total trading, is above 18 cents/lbp.

At around 12:30 pm (Brasília time), the March/25 contract on the New York Stock Exchange was up 0.33 cents (+1.70%), trading at 19.69 cents/lbp. The May/25 contract was up 0.20 cents (+1.12%), quoted at 18.06 cents/lbp. July/25 rose 0.16 cents (+0.91%), to 17.66 cents/lbp, while October/25 gained 0.12 cents (+0.68%), worth 17.73 cents/lbp.

In London, March/25 was trading at US$ 523.60 per ton, up US$ 5.90 (+1.14%). May/25 rose US$ 5.30 (+1.05%), to US$ 507.80 per ton. August/25 rose US$ 5.10 (+1.05%), quoted at US$ 489.80 per ton, while October/25 gained US$ 5.80 (+1.22%), worth US$ 482.10 per ton.

On Monday, Reuters reported that “India’s sugar output during the 2024-25 marketing year ending in September this year could fall to 27.27 million tonnes, down 14.7% from a year earlier, the Indian Sugar and Bioenergy Manufacturers Association estimated last month. However, traders at global trading houses expect even lower output given the pace at which mills are closing down.”

Source: Notícias Agrícolas