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Barchart
Barchart
Rich Asplund

Expectations of a Bumper Sugar Crop in India Weighs on Sugar Prices

October NY world sugar #11 (SBV24) Monday closed down -0.08 (-0.42%), and Oct London ICE white sugar #5 (SWV24) closed down -6.70 (-1.26%).

Sugar prices Monday fell to 2-week lows and closed moderately lower on optimism that above-average monsoon rains in India will lead to a bumper sugar crop.  The Indian Meteorological Department reported last Thursday that India received 792.5 mm of rain during the current monsoon season as of September 5, or 8% more than the comparable long-term average of 734.8 mm.  India's monsoon season runs from June through September.

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