Brazilian mills sugar hedging smallest since 2013/14

SAO PAULO: Brazilian mills have hedged 6.24 million tonnes of sugar through New York futures by November 30, or around 23 percent of expected exports in the 2018/19 season, Sao Paulo-based Archer Consulting said on Monday.

That hedging volume is the smallest since the 2013/14 season, Archer said, as mills refrain from fixing prices at the exchange waiting for possibly better values ahead. At this time last year, mills had hedged 35 percent of exportable sugar, according to the consultancy.