Commodity Blog

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Increase of Sugar Import in India; Rebound of Copper

July 30, 2009 at 21:11 by Vladimir Vyun

India, the world’s largest consumer of the sweetener, increases imports causing sugar to rise today. Demand for sugar in India exceeds local production as a result from low harvest of cane caused by excess rainfalls. October futures for raw-sugar increased $0.0019 (1 percent) to $0.1875 per pound as of 9:47 on ICE Futures U.S. in New York.

Improved economic expectations cause copper to restore from one-week low today. As the global recession is easing expectations for economic improvement in the U.S. and Europe cause copper prices to rebound. September delivery for copper increased $0.08 (3.2 percent) to $2.5575 per pound by 12:13 on NYMEX.

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