But if they were intended to drive down the sugar price, it is misleading and will be largely in vain. |
Judging from the current sugar price level, the January auction was largely a failure. |
The long-anticipated auctions have weighed heavily on traders' minds in the futures market which, in part, has contributed to their recent price drop. |
This is neither helpful for them to sharpen competitiveness and nor to the development of the white sugar futures market. |