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Barchart
Barchart
Rich Asplund

Lower Sugar Production in India Boosts Sugar Prices

India London NY Brazil Ethanol ISO Thailand the Indian Sugar and Bioenergy Manufacturers Association Unica USDA

March NY world sugar #11 (SBH25) today is up +0.64 (+3.32%), and March London ICE white sugar #5 (SWH25) is up +10.40 (+2.05%).

Sugar prices today are sharply higher, with NY sugar posting a 2-week high and London sugar posting a 1-week high.  Signs of smaller sugar production in India, the world's second-largest sugar producer, sparked short covering in sugar futures today after the Indian Sugar and Bio-energy Manufacturers Association (ISM) reported India's 2024/25 sugar production October 1 - December 31 was down -15.5% y/y to 9.54 MMT.  The lower sugar output in India could prompt the government to keep export restrictions in place and limit global sugar supplies.

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