Raw Sugar Rises on Signs Brazil Shifts to Ethanol
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Raw-sugar futures rose the most in a week on signs that processors in Brazil, the world’s biggest producer, will make more ethanol instead of sweetener from cane. Cocoa and coffee fell, while cotton and orange juice gained.
Marex Spectron Group estimated that the share of Brazilian cane used in refined sugar in the 12 months starting in April may be as low as 44 percent. This season, the amount was almost 50 percent, data from Unica, an industry group, showed. The nation plans to reduce taxes on ethanol to boost production and use of the biofuel, Valor Economico reported last week.