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Cotton & Sugar Prices Surge as Output Declines

December 18, 2010 at 5:47 by Vladimir Vyun

Sugar jumped today on signs on lower output from Brazil, the largest producer in the world. Output was 18 percent lower than a year ago in Brazil’s Center South, the biggest growing region. As harvest usually end in December, it’s very unlikely to improve significantly. March delivery for raw sugar gained $0.015 (4.8 percent) to $0.325 per pound as of 14:00 on ICE.

Cotton climbed as output tumbled 22 percent in Shandong province, the second largest producer in China, which is biggest grower in the world. Increasing demand and lack of supply boost appeal of the commodity. March futures for cotton delivery gained $0.04 (2.7 percent) to $1.5012 in New York. The price almost doubled this year because of global deficit.

If you have any questions and comments on the commodities today, use the form below to reply.

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