Tuesday, 04 January 2022
Due to the Christmas and New Year holidays, last week was a quiet one for the raw sugar market. Raw sugar prices drifted lower and trading volumes remained very light.
Rainfall in Centre South Brazil was relatively good in December with decent falls also expected in January. However, with the uncertainty around the weather in this region, and the possibility of crop stress, the impacts on yield next season remain high on the radar.
The Australian dollar barely moved over the holiday season, bouncing around 72 US cents. As we settle into the new year, the impacts of lockdowns and border closures as a result of COVID-19 on global growth, along with the rapid spread of the Omicron variant domestically, will continue to be monitored.