
March NY world sugar #11 (SBH26) on Wednesday closed down -0.11 (-0.77%), and December London ICE white sugar #5 (SWZ25) closed down -0.70 (-0.17%).
Sugar prices retreated on Wednesday, with NY sugar posting a 5-year nearest-futures low. Signs of a larger sugar crop in India, the world's second-largest producer, are undercutting prices after the India Sugar Mill Association (ISMA) on Tuesday raised its 2025/26 India sugar production estimate to 31 MMT from an earlier forecast of 30 MMT, up +18.8% y/y. The ISMA also cut its estimate for sugar used for ethanol production in India to 3.4 MMT from a July forecast of 5 MMT, which may allow India to boost its sugar exports.