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Barchart
Barchart
Rich Asplund

Sugar Prices Fall on Ramped-Up Sugar Production in Brazil

Brazil Unica El Nino London USDA

Oct NY world sugar #11 (SBV23) on Friday closed -0.51 (-2.09%), and Oct London white sugar #5 (SWV23) closed -8.00 (-1.17%).

Sugar prices Friday dropped to 1-week lows on signs of ramped-up sugar production in Brazil.  On Tuesday, Unica reported that Brazil Center-South sugar output in the first half of July rose +8.9% y/y to 3.241 MMT and that sugar output in the 2023/24 crop year through mid-July rose +21.9% y/y to 15.470 MMT.  Also, 48.14% of the crushed sugarcane was used for sugar production this year, an increase from 43.54% last year.

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