Agrimonetary Update -18th June 2009
18th 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>UK SUGAR PRICES TO BE DECREASED BY £5.95 PMT FROM MONDAY 22nd JUNE 2009</p><p>A short while ago the ECB fixed the commercial market value of the €uro at £0.8583 creating a POSITIVE monetary gap against the current artificial "USCR" (£0.8689) of 1.220%, outside the +/-1% change threshold. Consequently our sugar prices in the UK will be Decreased by £5.95 per tonne
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