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For the fourth consecutive session, sugar futures prices closed lower on Wednesday (13) on the New York and London stock exchanges. After this new drop, the March/25 NY contract moved away from 22 cents/lbp and is now approaching the support of 21 cents/lbp. According to Maurício Muruci, an analyst at Safras & Mercado, a downward trend that had persisted for four weeks has intensified in recent days, which caused the recent reductions. According to him, there was an overlap of downward vectors in the short and medium term, formed by the climate in Brazil and the exchange rate. Muruci highlights that the rains this week in the Center-South of Brazil were very heavy, and the international market interpreted this as positive for sugarcane production in the country, both for the remainder of the current harvest and for the next one, which begins in April 2025. Also due to weather interference, the analyst states that the Brazilian off-season should be within normal limits. Until last ...

In 2023, the Eurasian Economic Union countries produced 7.28 million tons of sugar, the highest level in the past four years. In 2022, the output was 6.54 million tons.

HAMBURG (Reuters) - Germany’s refined sugar beet production in the new 2024/25 season, now underway, is expected to rise to around 4.64 million metric tonnes, Germany’s sugar industry association WVZ said on Tuesday in its third crop forecast. Last season, the country produced 4.22 million tonnes, the association said. The new figure was slightly lower than its second production estimate for the new season of 4.95 million metric tonnes in October. While output is expected to be higher than last year, the association said it was concerned about the spread of diseases in Germany’s crops that were threatening yields. About 75,000 hectares of German sugar beets are suffering from such diseases, compared with about 40,000 hectares in previous years, and the WVZ was watching the development with “great concern,” it said. German farmers ...