The price of sugar ICE Futures in New York shares rose at the close of trading on Friday early afternoon (18/12). Strengthening the sugar prices pushed back the deficit forecast of sugar production.
Sugar prices rose because dealers observing the global deficit sugar 2015/16, with more widespread production areas that have been damaged by the wet weather in the area of cane sugar home Brazil and a decline in regional restrictions crops in the European Union.
Meanwhile, organization house Czarnikow commodities raise twice the expected global sugar deficit 2015/16 to 8.2 million tons from the calculation of the month of August. "Production has been experiencing stagnation in the last few years while the consumption continues to grow around 2 percent per year," Stephen Geldart, analysts Czarnikow manager states.
At the close of trading early afternoon sugar futures prices for the most active contract the March contract 2016 monitored increase. The price of sugar the most active futures closed higher by 0.11 pence or equivalent with 0.75 percent on the position of 14,70 cents per pound.
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