Sugar #11 Mar '24 (SBH24)
Sugar #11 Futures Market News and Commentary
May NY world sugar #11 (SBK26) on Thursday closed down -0.31 (-2.18%), and May London ICE white sugar #5 (SWK26) closed down -8.70 (-2.06%).
Sugar prices continued their week-long slide on Thursday, with NY sugar dropping to a 1-month low and London sugar falling to a 3-week low. Â Negative carryover from Tuesday is weighing on sugar prices, after India's Food Secretary said the government has no plans to ban sugar exports this year, easing concerns that it could divert more sugar to make ethanol following the Iran war disruption to crude oil supplies. Â
Sugar prices are also under pressure from last Thursday when India's National Federation of Cooperative Sugar Factories Ltd. reported that India's 2025-26 sugar output from Oct 1-Mar 31 was up +9% y/y to 27.12 MMT.
Higher sugar production in Brazil is also bearish for sugar prices. Â On March 27, Unica reported that cumulative 2025-26 Center-South sugar output (October through mid-March) is up +0.7% y/y to 40.25 MMT,... Read more
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May NY world sugar #11 (SBK26 ) on Thursday closed down -0.31 (-2.18%), and May London ICE white sugar #5 (SWK26 ) closed down -8.70 (-2.06%). Sugar prices...
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