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Barchart
Barchart
Rich Asplund

Sugar Prices Give Up Early Gains on Increased Sugar Output in India

India Thailand El Nino Ethanol the Indian Sugar and Bioenergy Manufacturers Association USDA

May NY world sugar #11 (SBK24) this morning is down -0.33 (-1.45%), and May London ICE white sugar #5 (SWK24) is down -3.90 (-0.60%).

Sugar prices this morning gave up an early advance and turned lower on signs of stronger sugar production in India.  The Indian Sugar and Bio-energy Manufacturers Association reported today that India's 2023/24 sugar production from Oct-Mar rose +0.4% y/y to 30.2 MMT as more sugar mills stayed open to crush sugarcane.  322 Indian sugar mills had closed operations by Mar 31, compared with 346 mills that closed at the same time last year.

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