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Barchart
Barchart
Rich Asplund

Sugar Prices Close Lower on Strong Sugar Output in Brazil

Brazil India London Thailand El Nino NY USDA

Oct NY world sugar #11 (SBV23) on Friday closed -0.46 (-1.72%), and Dec London white sugar #5 (SWZ23) closed -10.70 (-1.49%).

Sugar prices Friday settled moderately lower, with London sugar falling to a 4-week low.  Sugar has been under pressure this week on signs of ramped-up sugar production in Brazil.  Unica reported Tuesday that Brazil Center-South sugar output in the first half of September rose +8.5% y/y to 3.116 MMT and that sugar output in the 2023/24 crop year through mid-September rose +18.7% y/y to 29.258 MMT.  Also, 49.37% of the crushed sugarcane was used for sugar production this year, an increase from 45.47% last year.

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