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Barchart
Barchart
Rich Asplund

Sugar Prices Pressured by an Improved Global Supply Outlook

India London NY Brazil Thailand the Indian Sugar and Bioenergy Manufacturers Association the International Sugar Organization Unica USDA

March NY world sugar #11 (SBH25) today is down -0.18 (-0.93%), and March London ICE white sugar #5 (SWH25) is down -4.70 (-0.92%).

Sugar prices today are moderately lower, with NY sugar sliding to a 3-1/2 month nearest-futures low and London sugar dropping to a 2-3/4 year low.  Over the past three months, sugar prices have been trending lower on an improved global supply outlook.  On November 21, the International Sugar Organization (ISO) reduced its 2024/25 global sugar deficit forecast to -2.51 MMT, compared to an August forecast of -3.58 MMT.  ISO also raised its 2023/24 global sugar surplus estimate to 1.31 MMT from an August projection of +200,000 MT.  

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