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Barchart
Barchart
Rich Asplund

Sugar Prices Pressured as Brazil Ramps Up Sugar Production

Brazil London NY India USDA FAs Thailand Unica

October NY world sugar #11 (SBV25) on Friday closed down -0.17 (-1.04%), and October London ICE white sugar #5 (SWV25) closed down -2.80 (-0.60%).

Sugar prices were under pressure Friday, with NY sugar sliding to a 1-week low and London sugar falling to a 3.5-week low.  Signs of stronger sugar production in Brazil are weighing on sugar prices after Unica on Thursday reported Brazil's Center-South sugar output in the first half of July rose +15% y/y to 3.4 MMT.  Also, the amount of sugarcane being crushed for sugar by Brazil's sugar mills has increased to 54% from 50% the same time last year.

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