FAO Sugar Price Index down 20%

The FAO Sugar Price Index averaged 161.4 points in September, up 4 points (2.6%) from August, but still almost 43% below its level in the corresponding month last year.

"The increase in September was largely linked to the ongoing sugar harvesting operations in Brazil, the world’s largest sugar producer and exporter. Drought conditions in Brazil during the critical growing season are seen to have had negative impacts on sugarcane yields, with harvested cane volumes falling below expectations," the message reads.

Furthermore, rising concerns over crop prospects in the South and South-East Asian region, notably in India and Indonesia, due to monsoon rainfalls falling below normal levels, provided additional upward support to International sugar price quotations.

Reference: as of October 2, the Ukrainian sugar factories produced 278.7 thou. tons of sugar.

Note: Ukrainian sugar market in 2017 was dominated by 10 companies.