Reported 2 days ago
Sugar prices saw a slight increase on Friday, stabilizing after significant losses earlier in the week. Amid concerns over a record sugar surplus due to heightened production in Brazil and other countries, prices had declined sharply, hitting multi-year lows. Although Brazil's sugar output rose, overall production in the region decreased marginally year-on-year. Analysts expect that the ongoing rise in sugar production across major producers like Brazil and India will keep prices under pressure, despite a possible short-covering rally in the market.
Source: YAHOO