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Barchart
Barchart
Rich Asplund

Sugar Prices Pressured by an Improving Supply Situation

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

March NY world sugar #11 (SBH25) Thursday closed down -0.06 (-0.28%), and March London ICE white sugar #5 (SWH25) closed down -0.20 (-0.07%).

Sugar prices posted modest losses on Thursday and remained under pressure due to improved global sugar supplies.   On Monday, NY sugar posted a 2-1/2 month low, and London sugar posted a 3-week low as the supply situation improved.  On November 21, the International Sugar Organization (ISO) lowered its 2024/25 global sugar deficit forecast to -2.51 MMT, compared to an August forecast of -3.58 MMT.  The 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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