Daily Sugar Price Tracker with Vanessa Clark
https://www.instagram.com/vanessaclarkipai This is your Sugar podcast. Hey sugar friends, welcome back to Daily Sugar Price Tracker. I am Vanessa Clark, and today we are diving into what is happening in the global sugar market and where prices are trading right now. Let us start with the key number everyone searches for, the world sugar price. In New York, the main global benchmark, Sugar Number Eleven futures, is trading around fourteen to fifteen United States cents per pound for the near month contract, according to data compiled by Bloomberg and ChiniMandi. That keeps raw sugar close to multi year lows, even after some recent volatility. In London, white sugar futures on the ICE exchange are trading in the mid four hundreds United States dollars per ton for contracts later this year, based on the latest London sugar futures indications published by ChiniMandi. That spread between raw and white sugar matters for refiners and importers who watch both benchmarks every day. So why are sugar prices relatively soft right now. Bloomberg reports that strong sugar production and exports from Brazil, combined with weaker ethanol demand, are boosting near term sugar supplies. At the same time, Commodity Board notes that the market is still worried about El Nino related weather risks in Asia, especially in India and Thailand, which could tighten supplies later in the year. Barchart and other commodity analysts say crude oil prices are another big driver. When oil and ethanol prices fall, Brazilian mills have more incentive to make sugar instead of ethanol, which can push sugar prices down. When energy markets recover, that relationship can flip and support higher sugar prices. Here are a few practical takeaways. If you buy sugar for a business, current prices give you a chance to lock in some of your needs while the market is still soft. If you are a producer, it may be worth watching weather forecasts and Brazil crop updates closely, because any shift there can quickly change the outlook. That is it for today on Daily Sugar Price Tracker with Vanessa Clark. Thanks for listening, be sure to subscribe, and tune in next time for your fresh update on the daily sugar price. For more http://www.quietplease.ai Check out Vanessa on Instagram https://www.instagram.com/vanessaclarkipai For some deals, check out https://amzn.to/4hSgB4r
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