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Barchart
Barchart
Rich Asplund

Sugar Prices Close Moderately Lower on Increased Sugar Output in India

India Thailand El Nino Ethanol the Indian Sugar and Bioenergy Manufacturers Association USDA

May NY world sugar #11 (SBK24) on Tuesday closed down -0.40 (-1.76%), and May London ICE white sugar #5 (SWK24) closed down -8.60 (-1.32%).

Sugar prices Tuesday gave up an early advance and posted moderate losses as signs of stronger sugar production in India sparked long liquidation.  The Indian Sugar and Bioenergy Manufacturers Association reported Tuesday that India's 2023/24 sugar production from Oct-Mar rose +0.4% y/y to 30.2 MMT as more sugar mills stayed open to crush sugarcane.  As of March 31, 322 Indian sugar mills had closed operations, compared with 346 mills that were closed at the same time last year.

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