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Barchart
Barchart
Rich Asplund

Sugar Prices Extend Recent Losses on Global Supply Optimism

India NY Brazil London Thailand the Indian Sugar and Bioenergy Manufacturers Association the International Sugar Organization United Kingdom USDA

March NY world sugar #11 (SBH25) today is down -0.20 (-1.02%), and March London ICE white sugar #5 (SWH25) is not trading with markets in the UK closed for the Boxing Day holiday.

NY sugar today tumbled to a 3-1/4 month low.  Sugar prices have been under pressure since last Thursday when India's Food Secretary Chopra said that India may allow sugar exports if there is a surplus once domestic ethanol blending requirements are met.  The Indian government currently estimates a sugar surplus of about 1 MMT this season.

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