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Barchart
Barchart
Rich Asplund

Sugar Prices Fall as Supply Concerns Fade and the Brazilian Real Weakens

Brazil India the International Sugar Organization ISO Deficit London Thailand the Indian Sugar and Bioenergy Manufacturers Association USDA

March NY world sugar #11 (SBH25) today is down -0.26 (-1.20%), and March London ICE white sugar #5 (SWH25) is down -5.30 (-0.95%).

Sugar prices today are under pressure after the International Sugar Organization (ISO) lowered its 2024/25 global sugar deficit forecast to -2.51 MMT from an August forecast of -3.58 MMT.  The ISO also raised its 2023/24 global sugar surplus estimate to 1.31 MMT from an August projection of +200,000 MT.  Losses in sugar accelerated after the Brazilian real (^USDBRL) fell to a 2-week low against the dollar, encouraging export selling by Brazil's sugar producers.  

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