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Barchart
Barchart
Rich Asplund

Sugar Prices Gain on Smaller Sugar Output in India

India Thailand Brazil Conab London NY Unica United Kingdom USDA

July NY world sugar #11 (SBN24) this morning is up +0.12 (+0.62%), and Aug London ICE white sugar #5 (SWQ24) is not trading today, with markets in the UK closed for the May Day holiday.

Sugar prices today are moderately higher.  Today's report from the Indian Sugar and Bioenergy Manufacturers Association was bullish for sugar prices as it showed India's 2023/24 sugar production from Oct-Apr fell -1.6% y/y to 31.4 MMT as more sugar mills closed for the year and ended their crush of sugarcane.  As of Apr 30, 516 Indian sugar mills had closed operations compared with 460 mills that closed at the same time last year.

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