Delays in Brazilian Cane Still Boosting the Sugar Prices

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Hira Shahnawaz Akhtar
Published on
Updated on

The unexpected June rains in Brazil have meant a delay in the harvest of the crop, and the rallying up of sugar prices. Despite predictions of a surplus for this year, the slight delay in the crop has made market participants nervous, leading to a 22% increase in prices of raw sugar since beginning of June. October LIFFE No. 5 closed on Monday at US$ 645.60/mt after moderate fluctuations during the day, while Brazilian domestic sugar increased to cUSD 22.20/lb. Raw sugar touched three month highs this week. The cane crop in Brazil has been underway for almost three months…

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Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.