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Rich Asplund

Signs of a Larger Global Surplus Weigh on Sugar Prices

India Brazil Covrig Analytics ISMA ISO Thailand FAs USDA

March NY world sugar #11 (SBH26) on Monday closed down -0.05 (-0.34%). March London ICE white sugar #5 (SWH26) closed down -2.50 (-0.59%).

Sugar prices settled lower on Monday amid signs of a larger global sugar surplus. Covrig Analytics on Monday raised its 2025/26 global sugar surplus estimate to 4.7 MMT from 4.1 MMT in October. However, losses in sugar were contained after Covrig projected that the 2026/27 global sugar surplus will fall to 1.4 MMT as weak prices discourage production.

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