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Rich Asplund

Sugar Prices Fall on Strong Brazil Sugar Output

Brazil Unica India Thailand El Nino London NY USDA

March NY world sugar #11 (SBH24) on Tuesday closed -0.13 (-0.48%), and Dec London white sugar #5 (SWZ23) closed -1.40 (-0.19%).

Sugar prices Tuesday closed moderately lower, weighed down by solid sugar production in Brazil. Unica reported Tuesday that Brazil Center-South sugar output in the second half of September rose +98% y/y to 3.364 MMT, and that sugar output in the 2023/24 crop year through September rose +23.8% y/y to 32.615 MMT. Also, 49.54% of the crushed sugarcane was used for sugar production this year, an increase from 45.46% last year.

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