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FLBR - Sugar Looks Sweet As Thailand Becomes 'Dryland'
Franklin FTSE Brazil
Over recent months the price of world sugar that trades on the Intercontinental Exchange has been trending higher. Brazil is the world's leading producer and exporter of the soft commodity. While the ICE futures use the US dollar as a pricing mechanism for sugar, local production costs are in Brazilian real terms. The low level of the Brazilian currency against the US dollar pushed the price of the sweet commodity below 10 cents per pound in late 2018 for the first time in a decade. Since then, sugar futures have made higher lows and higher