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Barchart
Barchart
Rich Asplund

Lower Global Sugar Production Boosts Prices

Brazil Unica NY Green Pool Commodity Specialists London Thailand USDA

May NY world sugar #11 (SBK25) Thursday closed up +0.39 (+2.07%), and May London ICE white sugar #5 (SWK25) closed up +5.50 (+1.03%).

Sugar prices Thursday extended this week's advance, with NY sugar posting a 2-week high.  Lower sugar production in Brazil supports prices after Unica reported Thursday that cumulative 2024/25 Center-South sugar output through February fell -5.6% y/y to 39.822 MMT.  Sugar also has carryover support from Wednesday when the Indian Sugar and Bio-energy Manufactures Association cut its 2024/25 India sugar production forecast to 26.4 MMT from a January forecast of 27.27 MMT, citing lower cane yields.

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