
March NY world sugar #11 (SBH26) on Friday closed up +12 (+0.82%), and March London ICE white sugar #5 (SWH26) closed up +4.10 (+0.98%).
Sugar prices recovered from early losses on Friday and settled higher on some pre-weekend short covering. Since posting 3.5-week highs on Wednesday, sugar prices have been consolidating below those highs. Sugar found support this week after India's food ministry said it was considering boosting the price of ethanol used for gasoline blending, which could encourage India's sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus reducing sugar supplies.