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Rich Asplund

Forecasts for Record Global Sugar Production Weigh on Prices

ISO India the International Sugar Organization USDA Deficit Citigroup Conab Covrig Analytics ISMA

July NY world sugar #11 (SBN26) on Monday closed down -0.07 (-0.47%), and Aug London ICE white sugar #5 (SWQ26) closed down -2.00 (-0.46%).

Sugar prices fell to 1-week lows on Monday and settled lower after the International Sugar Organization (ISO) forecast a record global sugar crop for the 2025/26 season and raised its global surplus estimate. The ISO forecasts 2025/26 global sugar production at a record 182 MMT, up +3.5% y/y, and raised its 2025/26 global sugar surplus estimate to 2.2 MMT from a February forecast of 1.22 MMT, rebounding from a -3.46 MMT deficit in 2024-25.

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