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Improved Weather May Affect Sugar Prices

01 October 2010

BRAZIL - Analysts have warned that improved weather could affect the price of raw sugar futures.

Bloomberg has reported that prices for raw sugar have climbed by 46 per cent in the quarter ending 30 September, which is the largest rise since the quarter ending 31 March 1993.

Concern that adverse weather and drought conditions had affected the Brazilian crop had fuelled the price surge.

However, Expedito Rebello, head of research at the country's meteorology institute, Inmet, has said that a cold front had reached the south-east of the country and is no longer anticipated to cause adverse weather conditions.

A trader at Rabobank International, Jake Wetherall, told the network: "Weather seems a lot better in Brazil."

Last week, Bloomberg reported that Brazil's sugar cane crops had been harmed by devastatingly hot weather which had reduced the Amazon River to its lowest levels in 47 years.

TheCropSite News Desk

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