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Barchart
Barchart
Rich Asplund

Sugar Prices Rally on Hopes for Increased Demand

USDA Brazil India London China ISMA NY Thailand

October NY world sugar #11 (SBV25) today is up +0.35 (+2.16%), and October London ICE white sugar #5 (SWV25) is up +9.20 (+1.95%).

Sugar prices today are moving higher on speculation that the recent slide in sugar prices to 4-year lows has sparked a pickup in demand.  China's June sugar imports soared by 1,435% to 420,000 MT.  Also, President Trump last Wednesday said Coca-Cola agreed to use cane sugar in Coke beverages sold in the US instead of high-fructose corn syrup, which could boost US sugar consumption by +4.4% to 11.5 MMT from 11 MMT currently, according to Bloomberg Intelligence.

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