Agrimonetary Update 4th June 2009
4th June 2009
The USCR is the “Unofficial Sugar Conversion Rate” between UK Pounds and Euros. The USCR has the potential to change every 14 days depending on the value of Sterling against the Euro and if at 1.30pm every second Thursday that value is more than 1% different (+ or -) compared to the previous fortnight.
<p> </p><p>UK SUGAR PRICES TO BE DECREASED BY £8.87 PMT FROM MONDAY 8th JUNE 2009</p><p>A short while ago the ECB fixed the commercial market value of the €uro at £0.8689 creating a POSITIVE monetary gap against the current artificial "USCR" (£0.8847) of 1.786%, outside the +/-1% change threshold. Consequently our sugar prices in the UK will be Decreased by £8.87 per tonne
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