date:Jan 10, 2019
Global sugar prices rallied as drought conditions in Brazil have the market bracing for less sugar cane.
On Monday, sugar for February delivery on the Intercontinental Exchange finished up 6% at 12.65 cents a pound.
The gains come after sugar futures had slumped through December and hit a three-month low of 11.69 cents a pound on Jan. 3.
Areas in the south and northeastern portions of Brazil, where sugar cane is typically grown, have been afflicted with only a fraction of the precipitation no