- There seems to be a strong consensus in the sugar market that prices are range-bound, between $320 and $370/mt.
- Above this level and India is able to export large volumes of white sugar to the world market.
- Brazil can also make more sugar at the expense of ethanol next year if sugar prices strengthen too much.
- The arguments for the bottom of the range are less robust; don’t forget that global sugar stocks are still enormous.
No.5 Market