fundamental analysis of the world sugar market🍇Hey logical traders; India has reduced the export of sugar since last year, and a few days ago, the Indian government suddenly stopped the export of sugar. The stoppage of the export has not had a visible effect on the prices, if we think simply, we can say that India does not have much influence on the world market or wants to influence the market and raise the prices a little and will soon lift the export ban, but this thinking is wrong; India ranks second in the world in sugar production, and the export ban by the government is not a decision that can be implemented very quickly or canceled very quickly. (Governments think about decisions like this for days or months, so they don't change their minds quickly), there is also a hypothesis about reducing sugar exports to increase the production and export of ethanol by India; Brazil is the largest sugar producer in the world and many times It has been announced that there is a drought and it will reduce the export of sugar, we saw a similar situation in cocoa at the beginning of this year, when news of a drought came, but the price increase was not sudden, the increase was slowly and continued for months. multiplied; I think that the Indian government will not lift the export restrictions anytime soon (at least for a year), there is a high possibility that the prices will increase in the coming months because the sugarcane harvest in India will be from December to March. So it seems like a good opportunity to buy sugar in forex or even outside it.
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