Betting that world sugar prices will rise

Betting that world sugar prices will rise, Florida-based Kopernik Global Investors LLC has bought 12,947 shares of Warsaw-listed Astarta Holding, raising its stake over 5%. Between February 2017 and August 2018, the price dropped in half. Since then, sugar prices recovered slightly, to 13 US cents a pound. Dragon Capital writes: “Kopernik’s latest share accumulation may reflect bottom-fishing demand in anticipation of a bounce in the sugar market. Astarta’s shares slid by 59% in USD terms in 2018, hitting the lowest level since 2015 on a drop in global and domestic sugar prices.”