Commodities Buzz: Global Sugar Futures Hit Six Month Top

16 Nov 2022 , 11:36 AM

Global Sugar futures continued to soar today, adding to a massive spate of gains as markets eyed tightening supplies following extension on export curbs from India and the slide in the US dollar. India has extended restrictions for sugar export by one year through October 2023, the government said in a notification end October 2022. In May, the country restricted exports till October 2022 to contain a sharp spurt in local prices. This boosted global prices and the commodity has jumped nearly 20% in last two weeks. The futures are currently quoting at $20.29 per pound, up 2.30% on the day. Prices are currently hovering around six month high.Powered by Commodity Insights