Chilean sugar demand is recovering as COVID restrictions ease, and more people are vaccinated. However, it’s struggling to import sugar, thanks to a wide array of logistical issues. Its domestic prices have jumped to a five-year high in response.
The exporters are not in mood to sign contracts further as the present rate of 18.6 cents are not appealing, said ISMA. They may enter into contracts e the world prices increase to about 21 cents per pound, the association said.