Sugar rose today in London, following two consecutive weeks of decline, on speculation that the low price will attract traders. Consumption in Brazil is expected to pick up as the country is planning to use more cane for
Low price and rising demand makes sugar attractive to investors. The general positive market sentiment, caused by favorable macroeconomic indicators, supports the grain too.
May futures for delivery of white (refined) sugar added as much as 1.6 percent to close at $497.90 per metric ton on NYSE Liffe today. The price has dropped 2.4 percent in the previous two weeks.
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