Sugar May Jump 19% on Dry Weather in Brazil, Newedge Predicts
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Raw sugar may climb 19 percent by March if dry weather in Brazil, the world’s biggest producer, persists, amid growing demand from countries including China, according to broker Newedge USA.
The price may reach as high as 35 cents a pound, Michael McDougall, a senior vice president at Newedge, said in a phone interview from New York yesterday. A rally to that level will make the commodity the most expensive since November 1980.