Sugar prices fell to the 2022 level.

Raw sugar prices fell to their lowest level in nearly two years as the pace of sugarcane processing in Brazil and the expected recovery of production in key producing countries improve supply prospects.

According to Bloomberg, the most active contract fell by 2.5% to $17.57, the lowest level since October 2022. This month, futures have fallen nearly 7% on supply optimism.

However, the market remains alert to any signs pointing to a potential production cut in Brazil, which is the largest sugar producer.

It is reported that the market expects some decline in production in Brazil.

Source: Economic Truth