The Market in December

 Global sugar prices saw a sharp decline in December, with raw sugar prices falling amid increased hedging by Brazilian producers responding to recent weakness in the BRL. While Brazil's Centre-South region reported surprisingly robust production in late November, crushing activity slowed significantly in December. The parallel decline in white sugar prices presents a more complex puzzle, especially given India's reduced production and suspended exports. One possible explanation lies in the market's seasonal dynamics, as the peak global production period spanning the fourth and first quarters typically puts downward pressure on prices during this timeframe.