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Barchart
Barchart
Rich Asplund

Reduced Supply Concerns Undercut Sugar Prices

the International Sugar Organization Brazil India Thailand the Indian Sugar and Bioenergy Manufacturers Association USDA

March NY world sugar #11 (SBH25) Monday closed down -0.21 (-0.98%), and March London ICE white sugar #5 (SWH25) closed down -8.00 (-1.45%).

Sugar prices dropped to 1-week lows Monday and settled moderately lower.   An easing of sugar supply concerns weighs on prices after the International Sugar Organization (ISO) last Thursday lowered its 2024/25 global sugar deficit forecast to -2.51 MMT from an August forecast of -3.58 MMT.  The ISO also raised its 2023/24 global sugar surplus estimate to 1.31 MMT from an August projection of +200,000 MT.  

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