Sugar Prices on the Rise

HAVANA TIMES, Dec. 9 — The price of raw sugar in New York closed yesterday on the upswing and could possibly recover from heavy losses experienced last session, when the price dropped by more than a penny per pound.

In the futures market for this commodity, deliveries of the sweetener for March, May and July of next year rose respectively by 1.8, 0.93 and 0.87 cents per pound. Meanwhile, in the London market, a metric ton of white sugar ended with a $ 6.20 increase.

Sugar cane harvests this season in Brazil are expected to decline by 8.4 percent, which will be beneficial for the Cuban economy, where significant changes have been made to its sugar industry.