Sugar May Reach 40 Cents as Weather Hurts Crops
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Raw sugar in New York may climb to 40 cents a pound by January on concern dry weather in Brazil, the biggest exporter, and record rainfall in Australia may tighten supplies, said the Thai Sugar Millers Corp.
“Bad weather conditions are threatening crops around the globe,” said Vibul Panitvong, executive chairman of the company that represents the country’s 46 millers. Thailand is the world’s second-largest exporter.