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Barchart
Barchart
Rich Asplund

Sugar Prices Fall as Conab Raises its 2023/24 Brazil Sugar Production Estimate

Conab Brazil India NY Thailand El Nino London USDA

March NY world sugar #11 (SBH24) on Wednesday closed -0.13 (-0.48%), and March London ICE white sugar #5 (SWH24) closed -3.50 (-0.47%)

Sugar prices on Wednesday closed moderately lower, with NY sugar falling to a 4-week low.  Increased sugar production in Brazil should alleviate supply concerns and is undercutting prices.  On Wednesday, Conab raised its 2023/24 Brazil sugar production estimate to 46.9 MMT from an August estimate of 40.9 MMT.

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