SAO PAULO: Brazilian sugar mills are considering increasing their raw sweetener output at the expense of ethanol for automobile fuels after sugar futures surged to a two-year high this week, according to analysts.
Raw sugar futures for March delivery in New York have climbed 9.1% since Jan 2 after news of output declines in producers such as Thailand raised supply concerns amid an expected global deficit for the 2019/20 crop year that started in October.
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