Brazilian Real Weakness and Enhanced Supply Outlook Lead to Decline in Sugar Prices

The Brazilian real is depreciating against the dollar today, pushing down sugar prices to a one-week low. This has encouraged Brazilian sugar producers to market their products abroad. Over the last seven weeks, prices have decreased as a result of Brazil's increasing sugar output. Due to forecasts of plentiful sugar supply worldwide, London sugar fell to a 1.25-year low last Thursday while sugar in New York touched a 1.5-year low.