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International prices of sugar increased in June

International sugar prices

The FAO sugar price index averaged 183.3 points in June, up 7.4 points (4.2 percent) from May. International sugar prices were largely influenced by movements in the Brazilian currency (Real), which gained strength against the United States dollar. A stronger Real supports sugar prices by affecting the supply of Brazilian sugar to the world market, as producers prefer to process sugarcane into ethanol for local sale rather than exporting sugar and receiving a lower price. Reports of a decline in exports from the EU also provided support to world sugar prices.

Source: EST Food Price Index