Sugar Prices Rise Due to Reduced Global Surplus Outlook
Sugar prices increased on Monday as expectations of a smaller global surplus emerged. Czarnikow revised its surplus estimates downward, and concerns over supply disruptions, including the closure of the Strait of Hormuz, supported the price rise. However, sugar prices had previously faced pressure due to high production in Brazil and weak demand.
Topics: commodity markets ethanol production global surplus Strait of Hormuz sugar prices supply disruptions