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Barchart
Barchart
Rich Asplund

Sugar Prices Close Lower on Strong Sugar Production in Brazil

Brazil Unica India NY Thailand London the Indian Sugar and Bioenergy Manufacturers Association USDA

October NY world sugar #11 (SBV24) Thursday closed down -0.38 (-1.92%), and Aug London ICE white sugar #5 (SWQ24) closed down -4.40 (-0.79%).

Sugar prices Thursday retreated, with NY falling to a 2-week low.  Ramped-up sugar output in Brazil is bearish for prices after Unica reported Thursday that Brazil's sugar production for the 2024/25 crop year through June was up +15.7% y/y at 14.2 MMT.  Also, the percentage of Brazil's 2024/25 sugar cane crop crushed for sugar rose to 48.72% from 47.69% last year.  

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