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Barchart
Barchart
Rich Asplund

Sugar Prices Drop on Possible Sugar Exports from India

India NY Thailand El Nino Brazil London USDA

March NY world sugar #11 (SBH24) on Friday closed -0.44 (-1.61%), and Dec London white sugar #5 (SWZ23) closed -11.30 (-1.53%).

Sugar prices on Friday extended Thursday's losses on negative carryover from Thursday when India's Food Secretary said his country is not likely to face any shortage of sugar in the domestic market, which opens up the possibility it may resume sugar exports.  Indian Food Secretary Chopra said India's sugar reserves as of Oct 1 totaled 5.7 MMT, enough to meet demand for 2-1/2 months, and that it will decide whether to allow sugar exports after assessing its cane production.

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