Sugar retreats

Sugar cane production in Brazil’s center south region is now expected to be 575 million tonnes compared with 542 million tonnes during the previous season.  Figures supplied by the Brazilian sugar cane industry association, UNICA indicate an improved outlook for sugar cane output in the region.  The center south is Brazil’s main sugar cane growing region.

The news was the first indication that supply may increase and that prices may ease from 30 year highs.  Technicals also indicate a bearish trend.

May white sugar futures were down $25 to $725.30 per tonne in London trading.

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