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Sugar #11 Jul 22 (SB=F)
| Pre. Settlement | N/A |
| Settlement date | 2022-06-30 |
| Open | 19.95 |
| Bid | 19.85 |
| Last price | 19.83 |
| Day's range | 19.74 - 20.13 |
| Volume | |
| Ask | 19.86 |
- Reuters
Brazil mills cancel sugar export contracts, shift output to ethanol
Brazilian sugar cane mills are cancelling some sugar export contracts and diverting production to ethanol to cash in on high energy prices, according to people with direct knowledge of the deals, raising concerns of a sugar shortage. Nearly every company involved in sugar trading in Brazil has seen cancellations, a trader at a large international commodities merchant told Reuters on the sidelines of Sugar Week in New York last week. A large fall in sugar output could lead to a global sugar shortage, some traders say.
- Reuters
Dreyfus sees larger Brazil shift to ethanol, warns of sugar shortage
NEW YORK (Reuters) -Global commodities trader Louis Dreyfus projected on Wednesday that Brazilian mills will divert a larger-than-expected amount of sugarcane to ethanol production due to high energy prices, causing a reduction in global sugar supplies. Dreyfus sugar director Enrico Biancheri said during the Citi ISO Datagro sugar conference in New York that Brazil's center-south (CS) mills would produce only 29 million tonnes of sugar in the new season that started in April, a view that would be in the low end of analysts' estimates so far. "At current prices the world is heading to a shortage of sugar, due to a ethanol-oriented crop in Brazil," Biancheri said, adding that sugar prices will need to rise to a premium over ethanol prices to cause an increase in sugar production.
- The Telegraph
Kellogg's goes to court over milk on your Cornflakes
Kellogg’s has claimed the sugar content of its cereals should be measured after milk is added as it takes the Government to court over new rules to tackle child obesity.
