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Rich Asplund

Sugar Prices Fall on Optimism for a Bumper Sugar Crop in India

ISM India London Brazil Thailand NY the Indian Sugar and Bioenergy Manufacturers Association USDA

October NY world sugar #11 (SBV24) today is down -0.37 (-1.62%), and December London ICE white sugar #5 (SWZ24) is down -2.00 (-0.35%).

Sugar prices today are moderately lower, with London sugar posting a 1-week low. Optimism that above-average monsoon rains in India will lead to a bumper sugar crop is undercutting sugar prices. The Indian Meteorological Department reported today that India received 934.8 mm of rain during the current monsoon season as of September 30, the most in four years and 7.6% more than the comparable long-term average of 868.6 mm. India's monsoon season runs from June through September.

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