Sugar stocks in sweet spot, as shares hit roof
May 03, 2021
Brazil’s loss is India’s gains, say analysts
Shares of sugar prices surged on Monday, as analysts expect the commodity price to go up following Brazil woes. According to reports, sugar output for April in Brazil was down 35 per cent year-on-year. Analysts said Brazi’s loss could be India’s gain.
A Reuters report quoting industry group Unica said: “Brazil s center-south sugar output was only 624,000 tonnes in the first half of April versus 971,000 tonnes in a similar period last year. Cane crush was seen at 15.6 million tonnes, 30 per cent less than in 2020.”