Sugar Drops to 18-Month Low on Bigger Production in Brazil.

Sugar prices have reached an 18-month low in New York due to higher-than-expected sugar production in Brazil. Output in Brazil's Center-South region in April increased by over 80% compared to the previous year. This increase in production has been attributed to favorable weather conditions and a weakened Brazilian real, which encourages more exports. Additionally, India is expecting above-average rainfall, which could lead to larger harvests and the easing of export restrictions. The dry weather in Brazil is a concern for later harvested cane. [Extracted from the article]