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International prices of sugar increased in April

International sugar prices

The FAO Sugar Price Index averaged 181.7 points in April 2019, up almost 1.4 points (0.8 percent) from March and now 3.2 percent above its April 2018 value. The latest rise in international sugar prices was largely driven by firmer crude oil prices. Stronger energy prices lend support to international sugar prices by affecting Brazilian sugar exports to the world market, as higher energy prices encourage producers to process sugarcane into ethanol for local sale. On the other hand, the continued weakness of the Brazilian Real against the United States dollar capped the extent of the increase in international sugar price quotations.

Source: Fao Food Price Index