Sugar futures traded around 15.6 cents per lb in the last week of January, below a near 4-year high of 16.75 per lb reported earlier this month amid easing concerns over supply after rains in Brazil boosted cane growth
and India exports remained uninterrupted. Still, a poor crop in Thailand capped losses. The 2020/21 crop year in Thailand is expected to decrease to 70 million tonnes from its target of 75 million a year due to the drought and fewer sugar cane plantations as Covid-19 pandemic affected demand for sugar-related products.
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