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Rich Asplund

Sugar Prices Consolidate Below Last Week’s Significant Highs

India Deficit ISMA USDA Brazil Covrig Analytics Czarnikow FAs India Meteorological Department ISO

October NY world sugar #11 (SBV26) closed up +0.04 (+0.23%) on Monday, and October London ICE white sugar #5 (SWV26) closed down -15.70 (-2.85%).

Sugar prices settled mixed on Monday, consolidating below last week’s significant highs. Prices came under pressure Monday on the outlook that India will import less sugar than previously estimated. India-based sugar analyst Greenleaf said Monday that India will not be able to import more than 500,00 MT of sugar by October 31, well below expectations of 1 MMT.

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