Sugar Rally Pauses After Hitting Decade High on Shortage Fears

Raw sugar earlier touched highest since 2012 in New York
Prices surged lately on worries about tight global supplies

Stockpiles of raw sugar.
Photographer: Samsul Said/Bloomberg

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By Mumbi Gitau and Dayanne Sousa

April 12, 2023 at 7:37 AM UTC

Updated on

April 12, 2023 at 5:21 PM UTC

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Sugar eased in New York, after hitting the highest in a decade on persistent worries about tight global supplies.

Raw sugar fell 1.4%, reversing an earlier jump of as much as 1.9% amid technical adjustments and profit taking, StoneX analyst Murilo Aguiar said. Futures have surged lately on prospects for limited exports out of India and concerns about production in other key growers, with Wilmar International Ltd. expecting a deficit for this season.