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Barchart
Barchart
Rich Asplund

Sugar Prices Finish Lower as Supply Concerns Ease

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

October NY world sugar #11 (SBV24) on Tuesday closed down -0.51 (-2.53%), and Aug London ICE white sugar #5 (SWQ24) closed down -7.00 (-1.25%).

Sugar prices Tuesday fell sharply, with NY sugar posting a 1-1/2 week low and London sugar posting a 2-1/2 week low.  Above-normal monsoon rain in India may boost sugar output and is a bearish factor for sugar prices.  The Indian Meteorological Department reported Monday that India received 225.7 mm of rain during the current monsoon season as of July 7, up +2% from the comparable long-term average of 221.6 mm.

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