Raw sugar futures traded above 15 cents a pound in the third week of November 2020, reaching the highest level since February amid a recovery in global demand and supply disruptions. In Europe, sugar production fell due to virus yellows disease and a severe spring drought while in Thailand, production dropped due to dry weather. However, the outlook for sugar remains challenging amid high production from Brazil and India, and as Europe reintroduced lockdowns, which will likely lower consumption. Sugar hit a 13-year low of 9.2 cents a pound back in April when many countries were in lockdown.
Historically, Sugar reached an all time high of 65.20 in November of 1974. Sugar - data, forecasts, historical chart - was last updated on November of 2020.
Sugar is expected to trade at 14.67 Cents/LB by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 13.06 in 12 months time.