Get the app today! Download iPhone App Download Android App

OPEC's Next Move Is Being Closely Watched By Sugar Traders

Published on Nov 30 2017 10:20 AM in Supply Chain tagged: Sugar / sugar futures / Oil Prices / Biofuel

OPEC's Next Move Is Being Closely Watched By Sugar Traders

As energy minsters meet in Vienna this week to discuss oil-supply cuts, the sugar world will also be keeping a close eye on the outcome.

That’s because energy costs may be a key driver of sugar prices in the coming months as they determine the allure of ethanol, a biofuel made from sugar cane. Higher gasoline prices can encourage mills in top sugar producer Brazil to turn more cane into ethanol at the expense of the sweetener.

“The price of sugar will be very much linked to what happens in energy prices,” Plinio Nastari, president of consultant Datagro Ltd., said in an interview in London Wednesday.

please subscribe or sign in to continue reading

image description

Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.

A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!

Share on Facebook Share on Twitter Share on Google+ Share on LinkedIn Share on Tumblr Share via Email