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July 18, 2018, 18:27 New York, July 18 (PL) The price of raw sugar for October delivery has dropped from 0.05 cents in New York to 11.08 cents per pound today. He is in a hurry because of weakness in the face of the real dollar, the currency of Brazil, the world's largest sweetener.
. Safras & Mercado consulting firm, this forecast is based on a drought and high production of ethanol in this country
According to the entity, the output of this derivative will rise to 27 billion liters, more than 25 thousand 350 million liters for the period 2017/18.
Safras calculates that factories allocate 62% of cane harvested for ethanol production and only 38% for sugar production.
He estimated that the sharp decline in sucrose production in Brazil this year has not been able to badert the prices of the sweetener. in the international market, due to the promotion of this product's offerings in Thailand, India and Europe.
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