Sugar – the Universal Commodity – is produced in over 120 countries and consumed in every country. It turns up everywhere from your coffee cup (as a food additive) to your gas tank (as the fuel additive ethanol)
Ethanol provides an alternative use for sugar crops, particularly important in markets where sugar consumption per person is unlikely to grow any further. Ethanol, as an alternative fuel, reduces dependence on imported oil and improves balance of trade flows. Ethanol aids in improving air quality and avoids problems associated with groundwater pollution.
Table sugar or sucrose is extracted from plant sources. The most important two sugar crops are sugarcane and sugar beets in which sugar can account for 12%–20% of the plant's dry weight. Some minor commercial sugar crops include the date palm, sorghum and the sugar maple.
The world sugar futures market has been around since 1914. Sugar No.11 options were introduced in 1982 as the first exchange traded commodity option.
The New York Board of Trade (NYBOT) is the designated futures market and exclusive global marketplace for Sugar No.11 futures and options on futures contracts and Sugar No.14 futures.
Contract Size: 112,000 Pounds (50 long tons).