Sugar, as a commodity, is also affected by supply and demand. Therefore, the pandemic of COVID – 19 had been raising the price since April 2020. Recently, the price of sugar just made a new record of 18.35, pretty high according to the previous experiences. However, after 18.35, the price seems to stop here and shows weakness. After the vaccine has been popularized all over the world, the pandemic is getting controlled. Productivity should get back to standard step by step.
Brazil, as the biggest producer and exporter of sugar in the world, announced that the Sugar production in the second half of May in Brazil's key Center-South region is expected to total 2.590 million mt, a slight annual increase of 1.3%. Basically, the growing production of sugar can be attributed to the upgoing cane crush in the CS region. Producers from CS Brazil are favorable to the amount of production; the dry weather could last for a while. The amount of sugarcane crushed in H2 May is expected to total 43.04 million mt, up 1.5% from the prior-year period.
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