Sugar Prices Post Moderate Losses as Brazil Ramps Up Sugar Output

Oct NY world sugar #11 (SBV23) on Tuesday closed -0.29 (-1.10%), and Dec London white sugar #5 (SWZ23) closed -7.40 (-1.03%).

Sugar prices Tuesday extended Monday's losses to 2-week lows on ramped-up sugar production in Brazil.   Unica reported that Brazil Center-South sugar output in the first half of September rose +8.5% y/y to 3.116 MMT and that sugar output in the 2023/24 crop year through mid-September rose +18.7% y/y to 29.258 MMT.  Also, 49.37% of the crushed sugarcane was used for sugar production this year, an increase from 45.47% last year.