Post by Brasil Sugar International

Raw sugar price hits near two-month high on ICE. Reuters - Published: July 9, 2026 - 7:33 AM Sugar futures traded on ICE hit near two-month highs on Wednesday, the 8th, following the trajectory of oil. Furthermore, the market is concerned about a strong or potentially very strong El Niño weather phenomenon. The raw sugar contract expiring in October ended the session virtually unchanged at 15.11 cents per pound, after reaching a peak of 15.39 cents per pound. Sugar analyst Michael McDougall said he sees the market trending upward in the short term, given the risk of even higher oil prices. Higher energy prices are favorable to sugar, as they boost demand for sugarcane-based biofuels, reducing sugar production. In Brazil, a meeting of the National Energy Policy Council (CNPE), which could approve an increase in the ethanol blending rate, has been postponed again, with no new date set. Although the adverse impact of El Niño in Brazil and India has paused in recent days, the risks to crops associated with the weather phenomenon are not yet over, McDougall said. The global sugar market will show a modest deficit of 600,000 tons in the 2026/27 crop year, according to brokerage and supply chain services firm Czarnikow. Meanwhile, the most active white sugar contract rose 1% to US$480.60 per ton. May Angel and Marcelo Teixeira Brasil Sugar International (BSI) Website: https://brasil-sugar.com Email: [email protected] WhatsApp: +1 248 939 2646