Brazil Sugar Losses Make Thai and Indian Supply More Important
- Fears over Brazilian crop damage sent sugar prices soaring
- That’s putting more focus on how other major growers fare
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Brazil’s wildfires and drought that rattled the global sugar market have put the onus on Thailand and India to cover lost supplies. But both have offered recent reminders that they too face their own risks.
Futures spiked to the highest since February this week as fears mount over crop damage from blazes, heat and dryness in top grower and exporter Brazil. That’s threatening to raise costs for grocery goods from soft drinks to candy and shifting traders’ focus to how output fares in fellow major producers.