World prices for sugar, coffee, and cocoa have started growing. Supplies from Brazil and India may be reduced. Such trend has primarily touched sugar, having later turned to coffee and cocoa.
This marketing year, which starts on October 1st, in India the yield capacity of sugar cane will drop by 6.2 percent. The country is the second largest producer of sugar in the world. Reduction of yield capacity and price rise have been caused by non-favourable weather conditions. Such statement has been made by the Minister of Agriculture Sharad Pawar. To be more exact, drought in India and heavy downpour in Brazil have hindered harvesting. This week heavy rain is expected this week; therefore, field works will be paralyzed.
March future for raw sugar has risen by 2.2 percent – to 20.72 cents per pound at New York exchange. This is the highest rise since September 7th. In general, this year sugar has increased by 11 percent.
December future for Arabica has increased by 0.8 percent, having thus amounted to 1.7365 dollars per pound. However, prices have dropped by 23 percent during the year. December future for cocoa has increased by 1.5 percent, having thus amounted to 2483 dollars per ton during the trading session in New York. The price has risen by 18 percent during the year.
