If during the past weeks, the price of sugar had been significantly impacted by estimates of a plethora of major producing countries, things do not seem to manage to the end of 2011.
Prices remain in effect to a floor, giving ground again during the week just ended.
Prices remain in effect to a floor, giving ground again during the week just ended.
After declining in 2011 from 22% to 26% in London and New York prices rose Thursday as the threshold of $ 600 per tonne in London, recovering himself, however, somewhat Friday.
Experts estimate that prices are victims of a triple conjunction unfavorable. Namely: the renewed strength of the dollar against the euro, suggesting a rainy weather outlook for harvests in Brazil and rumors on European imports of sugar down.
Recall also that India, Thailand, European Union and Russia could increase the supply of very consistent in coming months.
Finally on the Liffe in London, a tonne of white sugar for March delivery was worth 606.80 dollars at the lunch break Friday against 603.20 dollars the previous Friday.
Meanwhile on the NYBOT-ICE U.S. a pound of raw sugar for March delivery traded at 23.36 cents against 23.22 cents last Friday.
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