(Bloomberg) -- Sugar rose to a two-month high in
New York on speculation that Brazil, the largest sugarcane
grower, will produce less of the sweetener and use more of the
crop to make ethanol.
Brazil will raise the amount of the biofuel required in
domestic gasoline to 25 percent July 1, increasing demand by 400
million liters in the next 12 months, the Agriculture Ministry
said last week. The country is harvesting a record sugarcane
crop of 513.3 million metric tons.
Read more at Bloomberg Commodities News
New York on speculation that Brazil, the largest sugarcane
grower, will produce less of the sweetener and use more of the
crop to make ethanol.
Brazil will raise the amount of the biofuel required in
domestic gasoline to 25 percent July 1, increasing demand by 400
million liters in the next 12 months, the Agriculture Ministry
said last week. The country is harvesting a record sugarcane
crop of 513.3 million metric tons.
Read more at Bloomberg Commodities News
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