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SUGAR REPORT | 14.01.2022 | MARKET NEWS | SEBAT GROUP

SUGAR REPORT | 14.01.2022 | MARKET NEWS

Sugar prices on Friday posted moderate gains on a rally in crude prices. Feb WTI crude (CLG2) rallied to a 2-month high Friday, which benefits ethanol prices and may prompt Brazil's sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.  

Reduced sugar output in Brazil is bullish for prices after Unica reported Wednesday that 2021/22 Center-South sugar production through Dec was 32.029 MMT, down -16.14% y/y. Also, the sugar content in the sugarcane crushed fell -1.55 y/y to 142.92 kg/ton from 145.17 kg/ton a year earlier.



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