Sugar prices soar with rain a factor
Posted on: Monday, 10 August 2009, 14:09 CDT
Unfavorable weather in India and Brazil has sent the price of sugar futures soaring in New York and London, analysts say.
White sugar-futures reached a record $538.50 a ton on London's International Financial Futures and Options Exchange, International Business Times reported.
On New York's IntercontinentalExchange, sugar reached 22.2 cents a pound, The Los Angeles Times said.
The problem is rain: Too much in Brazil and not enough in India, the newspaper said.
As a result, sugar prices have risen 88 percent since Jan. 1. Since Friday, prices jumped 6.7 percent. In the past two weeks, sugar prices have soared more than 20 percent.
Source: United Press International
Related Articles
- Posco Raising Steel Price 8 Percent
- Futures Prices for Energy Commodities Rise
- Record Oil Futures Prices Show Some Supply Worries COMMODITIES MARKETPLACE By Bloomberg
- Gas Futures Prices Hit Record Highs
- Gas Bill Reprieve Wafts in: Balmy Weather Sends Futures Prices on Unexpected Drop
- Gold Futures Prices Briefly Hit 15-Year High in Tokyo
- Futures Price of Oil, Gasoline Drops a Bit
- Consumers of Natural Gas Will Feel Pinch As Futures Prices Rise
- Crude Oil Futures Prices Climb Further
- Crude Oil Futures Prices Continue to Rise
Rating: 4.3 / 5 (3 votes)
 |
 |
Rate this article:
User Comments (0)
RSS Feeds