Sugar futures ended the session on Thursday (22) with expressive rise in the New York and London exchanges. The sweetener market had another day of attention to the oscillations of the financial, with oil and foreign exchange, but still monitors the origins.

The most traded maturity of raw sugar on the New York Stock Exchange was up 1.07%, quoted at 18 cents/lb, with a high of 18.03 cents/lb and a low of 17.78 cents/lb. At the London terminal, the first contract jumped 2.93% on the day, at $536.90 a ton.

The oil market was up moderately on external exchanges on Thursday afternoon amid concerns over Russian oil supplies and contributed to sugar’s advance. Oil directly impacts energy-related products.

“Putin’s bellicose rhetoric is what is underpinning this market,” John Kilduff, a partner at Again Capital LLC in New York, told Reuters.

In addition, the dollar was down against the real, which tends to discourage commodity exports and lends support to external prices. Demand, by the way, has been heated for the Brazilian product in recent months.

As pressure, information on origins continues to be monitored by operators. The Center-South of Brazil had at the end of August a volume above the previous month and the expectation of operators. The movements from India are also followed.

“Sugar supply is expected to decrease during the 2022/23 season (October/September),” highlighted the news agency Reuters.

Internal market

Sugar prices remain around R$125 a bag in the Brazilian market, but with volatile market. In the last day of trading, the CEPEA/ESALQ indicator of sugar, color Icumsa from 130 to 180, São Paulo market, up 0.14%, trading at R$ 124.90 a bag of 50 kg.

As for the North and Northeast regions of Brazil, sugar was quoted at R$ 151.05 a bag – stable, according to data from consultancy Datagro. The VHP sugar, in Santos (SP), had on the last day of measurement the FOB price at US$ 19.35 c/lb and high of 0.16%.