Raw sugar prices spent the majority of August rallying higher as the ever-deteriorating Centre South Brazil crop whipped the market into a bullish frenzy.
At the time of writing, the October 2021 ICE 11 contract had traded from its monthly low of 17.74 USc/lb up to a high of 20.37 USc/lb, breaking the 20 USc/lb level for the first time since February 2017.
This sparked a fresh rush of grower pricing activity, with up to $610/tonne gross actual and $545/tonne gross actual achieved in the 2021 and 2022 Target Price Contracts respectively.
Click here to read our full Grower Pricing Update.
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