BRAZIL: Archer Consulting says sugar prices may increase in the Q4
Published: 10/02/2017, 4:47:16 PM
Sugar prices are expected to increase during the fourth quarter of this year, following a trend observed in past seasons, says analyst Arnaldo Luiz Corrêa, at Brazil-based consultancy Archer Consulting, reports Sugaronline.
Archer estimates that the average sugar price in October will be US$15.37 per pound, peaking at US$16.72 per pound. The minimum price expected for this month is US$14.02 per pound. The estimate has a 2.71% margin of error.
"In the past five harvests, the average price in October on the future sugar market in NY was higher than that in the previous September. In the past 15 crops, the average price observed in October was better than in September 87% of the time," Côrrea said in a report published on Archer Consulting website.
He said that sugar prices in October during the past five years were, on average, 12% higher than in September.