FlashMarket n°12 - 27/03/2009
On 20 March, white sugar prices hit 407.8 $/t for May short settlement dates, and raw sugar stood at
13.54 cts/lb or 298.5 $/t, also for the May settlement. This price hike brings white premium very close to
the 110$/t mark, and should stimulate refining activity while freight prices are falling (P.9). Nonetheless,
this rising trend should be seen in relative terms, especially in the light of a falling dollar (P.8) in the wake
of the US Federal Reserve's announcement that they would purchase toxic assets from banks (requiring
the creation of currency underlying the devaluation of the dollar). Prices have also been propped up by the
rise in oil prices (P.5) over the last two weeks.
There will be generalised increases in the prices of all agricultural raw material markets (P.6).
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