CANE - Coronavirus Stockpiling Won't Boost Sugar Prices
Despite a rush among individual shoppers in several major countries to hoard sugar in the face of COVID-19, traders shouldn’t expect to see higher futures prices for the sweet commodity anytime soon. In this report, I’ll explain that while retail demand is fairly high right now, supplies aren’t being limited by the virus. Further, industry analysts are predicting that global sugar consumption will actually decline during the coronavirus.
Retail food prices are rising as consumers in countries hard-hit by the coronavirus stockpile staple foods, including refined sugar. Yet despite the increased demand for sugar, supplies