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Barchart
Barchart
Rich Asplund

Improving Supply Outlook Pressures Sugar Prices

India London NY Thailand El Nino the Indian Sugar and Bioenergy Manufacturers Association USDA

May NY world sugar #11 (SBK24) this morning is down -0.50 (-2.33%), and May London ICE white sugar #5 (SWK24) is down -2.70 (-0.43%).

Sugar prices this morning are trading lower, with NY sugar falling to a 1-month low and London sugar falling to a 3-week low.  Sugar prices have been under pressure since last Wednesday when Thailand's Office of the Cane and Sugar Board reported that Thailand's 2023/24 sugar production from Dec-Mar was 8.75 MMT, above a Feb estimate from the Thai Sugar Millers Corp for sugar production of 7.5 MMT.

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