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Barchart
Barchart
Rich Asplund

Sugar Prices Decline on the Outlook for Larger Global Sugar Surpluses

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

October NY world sugar #11 (SBV24) today is down -0.54 (-2.32%), and December London ICE white sugar #5 (SWZ24) is down -17.60 (-2.96%).

Sugar prices today are sharply lower, with London sugar falling to a 1-week low on the outlook for larger global sugar surpluses.  Researcher StoneX raised its global 2024/25 sugar surplus estimate today to 2.0 MMT from a July estimate of 1.2 MMT, citing an improved production outlook in India and Thailand.  Also, increased sugar production in Brazil is bearish for prices.  Unica reported today that Center-South sugar production in the 2024/25 season through mid-September is up +3.6% y/y at 30.327 MMT.

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