Good morning! Today, we talk about how Brazilian sugar producers are set to cash in. The House advances Bolivia’s path to joining Mercosur. And signs of an economic slowdown.
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Sugar market outlook presents Brazil with opportunity
Sugar prices have hit their highest level in 13 years, per the most recent update of the UN Food and Agriculture Organization’s food price index. “The hike in prices mostly stemmed from increasing concerns over a tighter global supply outlook in the upcoming 2023-2024 season,” the FAO said.
State of play. Producers in Thailand and India (countries that account for 20 percent of global raw sugar exports) are facing production declines due to drier-than-usual conditions caused by the El Niño phenomenon. Moreover, a hike in crude oil...