Wednesday, 18 March 2020
Find out how the coronavirus pandemic is impacting the sugar market and Aussie dollar in this week's QSL Market Update.
- Sugar prices extend the downward trend with the MAY20 ICE#11 contract closing the week at 11.70 USc/lb - down 10.1%.
- The Brazilian Real continued to reach new record lows of 5.0258 USD/BRL on Thursday (last week), encouraging Brazilian exports of sugar.
- Crude oil lost almost 50% of its value from its high in February of $54.66 a barrel down to a low on Monday of $27.34, this may push Brazilian mills to begin producing more sugar over ethanol.
Read the full QSL Market Update, click here.