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Barchart
Barchart
Rich Asplund

Sugar Prices End Lower on Increased Vietnam Sugar Production

India London NY Thailand El Nino the Indian Sugar and Bioenergy Manufacturers Association USDA

May NY world sugar #11 (SBK24) on Monday closed down -0.40 (-1.82%), and May London ICE white sugar #5 (SWK24) closed down -8.80 (-1.36%).

Sugar prices on Monday settled sharply lower, with NY sugar posting a 2-1/2 week low and London sugar posting a 1-1/2 week low.  Sugar prices were under bearish carryover pressure from last Wednesday when Vietnam's Office of the Cane and Sugar Board reported that Thailand's 2023/24 sugar production from Dec-Mar was 8.75 MMT, above a Feb estimate from the Thai Sugar Millers Corp for sugar production of 7.5 MMT.  

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