Sugar Falls to Seven-Month Low; Coffee, Cocoa Prices Decline
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Sugar fell to the lowest since September on forecasts for increased exports from Thailand, the world’s second-largest shipper, and that China may take further steps to slow growth. Coffee and cocoa also retreated.
Thailand’s sugar exports may reach a record 7 million tons this season, according to researcher F.O. Licht. The People’s Bank of China said stabilizing consumer prices and managing inflation expectations are “critical,” after policy makers from India and Brazil yesterday signaled further interest-rate increases are possible. Raw-sugar futures have plunged 34 percent this year.