Sugar Climbs to Six-Month Highs

Food Oct 04, 2013 No Comments

SugarRaw-sugar futures are trading at six-month highs as rain delayed the harvest in the world’s biggest producer Brazil and fueled worries about supplies, on news from Unica, Brazil’s sugar industry association.

Futures surged 4.2% last week after Unica trimmed its forecast for the harvest in Brazil’s main sugar-producing region by 0.4% to 587 million metric tons this season.

Wet weather is delaying the crop in Brazil, the top sugar exporter. Rain pushes back the crop because heavy harvesting and transporting equipment can’t enter the sugar-cane fields when they are soggy. In addition, the longer the rains delay the harvest, the further back it gets pushed, which leaves the cane more vulnerable to cold weather.

via Sugar Climbs to Six-Month Highs – WSJ.com

Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

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