
March NY world sugar #11 (SBH24) on Tuesday closed +0.05 (+0.18%), and Dec London white sugar #5 (SWZ23) closed +2.70 (+0.36%).
Sugar prices on Tuesday closed moderately higher, with NY sugar posting a 12-year nearest-futures high. The outlook for tighter global sugar supplies is bullish for prices. On Monday, the International Sugar Organization (ISO) forecasted that 2023/24 global sugar production (Oct-Sep) will fall -1.2% y/y to 174.8 MMT, and there will be a 2023/24 global sugar deficit of -2.1 MMT.