(Bloomberg) -- Brazil is set to flood the world market with sugar as the transition to electric vehicles slashes demand for crop-based biofuels, according to a study led by an influential industry executive.Demand for ethanol, made mostly from sugar cane in Brazil, will likely start to decline in 2030 as EVs become more widespread, said Soren Jensen, the former chief operating officer of top sugar trader Alvean, who authored the study together with Mariana Perina Jirousek. That will leave miller
Hedge funds focused on commodities have generated strong returns in 2021 and investors long wary of such funds are now putting money into them, betting the recovery from the pandemic will charge demand for oil, gas and raw materials from metals to grains to sugar and coffee. While money has flooded into other commodity investments, hedge funds are a more surprising choice after years of outflows and closures of several high-profile firms. Among the funds notching big gains this year are those run by famed oil investor Pierre Andurand.
World food prices rose in May at their fastest monthly rate in more than a decade, posting a 12th consecutive monthly increase to hit their highest level since September 2011, the United Nations food agency said on Thursday. FAO also issued its first forecast for world cereal production in 2021, predicting output of nearly 2.821 billion tonnes -- a new record and 1.9% up on 2020 levels. The Food and Agriculture Organization's food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 127.1 points last month versus a revised 121.3 in April.