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Barchart
Barchart
Rich Asplund

Sugar Prices Consolidate Modestly Below Recent 12-Year Highs

NY Thailand India El Nino ISO London USDA

March NY world sugar #11 (SBH24) on Thursday closed -0.03 (-0.11%), and Dec London white sugar #5 (SWZ23) closed -4.40 (-0.39%).

Sugar prices Thursday posted modest losses as they consolidated below recent highs.  Last Wednesday, NY sugar posted a 12-year nearest-futures high on the outlook for tighter global sugar supplies.  Last Monday, the International Sugar Organization (ISO) forecasted that 2023/24 global sugar production (Oct-Sep) will fall -1.2% y/y to 174.8 MMT, and there will be a 2023/24 global sugar deficit of -2.1 MMT.

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