Sugar Futures Erupt In Largest Weekly Gain In Years Amid "Unusual & Persistent Weather Events" In Brazil [zero hedge]
WILMAR INTL LTD UNSP/ADR (WLMIY)
NASDAQ:AMEX Investor Relations:
ir-media.wilmar-international.com
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Source: zero hedge
Sugar Futures Erupt In Largest Weekly Gain In Years Amid "Unusual & Persistent Weather Events" In Brazil Brazil's Center for Natural Disaster Monitoring and Alerts has reported that drought conditions plague roughly 59% of the country, including vast areas of agricultural land. The severe drought has damaged several key commodity crops in the South American country, which is known as the world's top exporter of soybeans, sugarcane, beef, coffee, corn, orange juice, and poultry. Focusing on sugar markets, Bloomberg cited data from trader Wilmar International showing that droughts are expected to severely impact sugar production in the Center-South, Brazil's central growing region. So far, the dismal crop forecasts have catapulted raw sugar futures in New York to the largest weekly gain in six years, nearly eclipsing those levels and hitting levels not seen since 2008. Wilmar wrote on X that a series of unusual weather events have significantly impacted the sugarcane crop in the Center-
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- Adani, Wilmar to Start Stake Sale in Joint Venture Next Month [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Workers at Australia's No. 1 Sugar Producer Vote to End Strikes [Yahoo! Finance Canada]Yahoo! Finance Canada