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Rich Asplund

Sugar Prices Close Lower as Supply Concerns Ease

India NY Brazil ISO London Thailand Unica USDA

March NY world sugar #11 (SBH25) Monday closed down -0.32 (-1.63%), and March London ICE white sugar #5 (SWH25) closed down -7.10 (-1.38%).

Sugar prices Monday posted moderate losses. Over the past three months, sugar prices have been trending lower. Last Tuesday, NY sugar posted a 3-1/2 month nearest-futures low, and last Monday, London sugar posted a 2-3/4 year low on an improved sugar supply outlook. On November 21, the International Sugar Organization (ISO) reduced its 2024/25 global sugar deficit forecast to -2.51 MMT, compared to an August forecast of -3.58 MMT. 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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