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Barchart
Rich Asplund

Sugar Prices Close Lower on Higher Sugar Output in Brazil

Brazil India London NY ISMA ISO

July NY world sugar #11 (SBN23) on Thursday closed down -0.66 (-2.59%), and Aug London white sugar #5 (SWQ23) closed down -11.00 (-1.55%).

Sugar prices Thursday retreated, with NY sugar posting a 1-month low and London sugar posting a 3-week low.   Ramped-up Brazil sugar production weighed on sugar prices Thursday after Unica reported  Brazil's 2023/24 sugar production through mid-May was up +48% y/y at 4.063 MMT and that the percentage of sugarcane crushed for sugar rose to 45.6% from 38.5% last year.  

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