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Barchart
Barchart
Rich Asplund

Higher Brazilian Sugar Production Sinks Sugar Prices

Brazil Unica USDA India London NY Thailand

October NY world sugar #11 (SBV25) on Tuesday closed down -0.16 (-0.98%), and October London ICE white sugar #5 (SWV25) closed down -5.20 (-1.11%).

Sugar prices tumbled to 5-week lows Tuesday on signs of stronger sugar production in Brazil.  Last Thursday, Unica reported Brazil's Center-South sugar output in the first half of July rose +15% y/y to 3.4 MMT.  Also, the amount of sugarcane being crushed for sugar by Brazil's sugar mills has increased to 54% from 50% the same time last year.

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