Sugar futures on ICE rose above 19.6 cents per pound, rebounding from the two-week low of 19.3 cents touched June 3rd, amid expectations of lower supply as bullish crude prices incentivize sugar producers to prioritize biofuels instead of raw sugar. Surging gasoline costs and concerns of energy security led India to pledge a 20% ethanol blending target by 2025, compared to the current 10%, requiring a significant diversion of sugarcane for biofuels instead of sugar crushing. Similar trends are projected for top sugar producer Brazil, as multiple sugar cane mills canceled sugar export contracts in May and diverted crops to the more profitable ethanol blending. Historically, Sugar reached an all time high of 65.20 in November of 1974. The Sugar No. 11 contract is the world benchmark contract for raw sugar trading and is available on The Intercontinental Exchange (ICE). The size of each contract is 112,000 pounds. The biggest producer and exporter of sugar in the world is Brazil (21% of total production and 45% of total exports). A significant amount of sugar is also produced in India, European Union, China, Thailand and the United States. The sugar prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments.Please Add a comment before the calling of Sugar, we will inform your mail address to the owner of the fish. They will reach to you from email or your phone.