Sugar Extends Surge as Refined Contract Hits Highest Since 2011
- Raw sugar settled at its highest price since 2016 in New York
- Lack of deliverable sugar seen ahead of contract expiry
Photographer: Chris Ratcliffe/Bloomberg
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Sugar extended its surge in New York and London on mounting worries about tight supplies.
White-sugar futures rose 2.7% in London to settle at its highest price since November 2011. That elevated the white premium, the price difference between refined and raw sugar, which touched record highs in Tuesday trading before trimming gains. Raw sugar settled 2.6% higher in New York, its highest since October 2016.