India's lowest monsoon rainfall affects raw sugar futures. The surge in raw sugar futures to 24 cents per pound, marking a one-month high, can be attributed to adverse growing conditions affecting sugar production. These conditions may include factors such as extreme weather events, drought, pests, or diseases, which can negatively impact sugar crops. The rise in futures prices reflects concerns among traders and investors about potential supply shortages or reduced yields in the future due to these unfavourable conditions. This increase in prices indicates market expectations of tighter sugar supplies, leading to heightened demand for futures contracts as a hedge against potential price volatility. Catch Manisha Gupta with Rahil Shaikh, Managing Director of MEIR Commodities.
first published: Feb 29, 2024 01:55 pm
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