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Barchart
Barchart
Rich Asplund

NY Sugar Falls to a 5-Week Low on Higher Sugar Output in Brazil

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

May NY world sugar #11 (SBK24) this morning is down -0.17 (-0.82%), and May London ICE white sugar #5 (SWK24) is up +1.50 (+0.24%).

Sugar prices this morning are mixed, with NY sugar falling to a 5-week low.  Increased sugar output in Brazil is undercutting sugar prices today after Unica reported Brazil's Center-South sugar output in the second half of March was 183,000 MT, up +9% from last year.  Also, Brazilian sugar output so far in the 2023-24 marketing year through March is up +25.7% y/y to 42.425 MMT.  Brazil's sugar mills have ramped up their cane crushing for more sugar and less ethanol.  Mills have crushed 48.87% of total cane for sugar production this year, up from 45.86% last year.

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