Tuesday, 29 October 2019
The sugar market traded in a very narrow range last week, lacking news to pick up value. The ICE 11 started slowly, slipping to a low of 12.05 c/lb on Wednesday before peaking on Friday at 12.35 c/lb.
The Brazilian Sugarcane Industry Association (UNICA) issued its report for the first half of October, with cane crushed 5% higher than last year on the back of better weather conditions.
A total of 25 mills have finished their activities for this season, with another 41 expected to finish by the end of the week.
Total Sugar Recovered (ATR) reached its peak, with 34.65% of the crush used to produce sugar. UNICA indicates that for the next 15 days the ATR is expected to decrease again, providing support to ethanol production.