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Barchart
Barchart
Rich Asplund

Sugar Prices Drop to 6-Week Lows on Abundant Global Supplies

May NY world sugar #11 (SBK26) on Monday closed down -0.07 (-0.51%), and May London ICE white sugar #5 (SWK26) closed down -1.10 (-0.27%).

Sugar prices extended their 2-week decline on Monday, sliding to 6-week lows, pressured by expectations of abundant global supplies.  Last Tuesday, India's Food Secretary said the government has no plans to ban sugar exports this year, easing concerns that it could divert more sugar to make ethanol following the Iran war disruption to crude oil supplies.  

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