The price of sugar rose to a 22-month high
the Price of raw sugar on the world market continues to grow, now it is trading at 17,5 $, which is the highest figure for the last 22 months. Expectations of a shortage of sugar in the current and following seasons, pushing prices up. Only in the season 2015/16 sugar deficit is estimated at 11 million tons. Additional support rising prices market players, which have significantly increased the number of long positions to the highest in the existing history of observations of the level (according to CFTC).
In the European Union the terms of supply of sugar is also decreased, which helped to support his quotes. The European Commission publishes data on manufacturers ' selling prices with a noticeable delay. The information that in EU countries in March, the price of white sugar amounted to an average of 433 euros/tone, has been reported only a few days ago. So noticeable the last time prices increased in December, 2014.
However, it seems that the representatives of the European Commission not too concerned about a possible shortage of sugar. Perhaps they hope the situation will improve after the harvest in the EU, which, according to forecasts, will be higher than previously expected. Some time discussed the need to adopt special measures to increase the number of proposals of sugar, for example, supplies some amount of technical sugar to the food market or even more reduction in import duties. However, during the last meeting, these questions were not included in the daily agenda.