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Commodity Mid Session News

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(11 Mar 2025, 14:44)

Hot Commodities: Raw Sugar flares up as recovery from six month lows continues

Raw Sugar futures spiked today, adding to recent gains as a recovery from six week lows extended. The commodity eyed global market tightness and tested around one and half week high. NY Raw Sugar futures added around 3% yesterday and currently quote at 18.92 cents per pound, up 0.37% on the day. International Sugar Organization (ISO) has recently raised its 2024/25 global sugar deficit forecast to 4.88 MMT from a November forecast of 2.51 MMT, showing a squeeze in global Sugar market from the 2023/24 global sugar surplus of 1.31 MMT. It also cut its 2024/25 global sugar production forecast to 175.5 MMT from a November forecast of 179.1 MMT.
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