The raw material, which is extracted from sugar cane in tropical regions and from sugar beet in temperate climates, is used in foods, to improve flavor and as a preservative. On the other hand, raw sugar is used as a fuel via the detour of ethanol production. Ethanol derived from sugar has been used as a fuel additive in internal combustion engines since the 1930s, and Brazil has been a pioneer in the use of sugar since the 1970s, encouraged by specifications for engine construction. If crude oil prices remain high, such substitution techniques are likely to gain further economic importance.
Trade data on Sugar
Product symbol: SB
Trade: ICE (Intercontinental Exchange)
Contract size: 112000 Pounds
Trade price: Cents per pound
Minimum trade movement: 0.01 Cents per pound
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