May NY world sugar #11 (SBK25) Monday closed down -0.12 (-0.67%), and August London ICE white sugar #5 (SWQ25) did not trade with markets closed in London for the Easter Monday holiday.
NY sugar fell from a 1-week high Monday and posted moderate losses due to a sell-off in equity markets, which sparked risk-off sentiment in asset markets and weighed on sugar prices. Sugar prices Monday initially moved higher after the dollar index (DXY00) sank to a 3-year low. Sugar also had positive carryover from last Thursday on news of reduced sugar output in India after the Indian Sugar and Bio-Energy Manufacturers Association (ISMA) reported that India's sugar production from Oct 1-Apr 15 was 25.5 MMT, down -18% from the same period last year.
