March NY world sugar #11 (SBH25) Thursday closed down -0.28 (-1.43%), and March London ICE white sugar #5 (SWH25) did not trade with markets in the UK closed for the Boxing Day holiday.
NY sugar Thursday tumbled to a 3-1/4 month low and settled moderately lower. Sugar prices have been under pressure since last Thursday when India's Food Secretary Chopra said that India may allow sugar exports if there is a surplus once domestic ethanol blending requirements are met. The Indian government currently estimates a sugar surplus of about 1 MMT this season.
