March NY world sugar #11 (SBH25) Thursday closed up +0.47 (+2.44%), and March London ICE white sugar #5 (SWH25) closed up +6.00 (+1.18%).
Sugar prices posted moderate gains on Thursday, with NY sugar climbing to a 2-week high and London sugar rising to a 1-week high. Signs of smaller sugar production in India, the world's second-largest sugar producer, sparked short covering in sugar futures Thursday after the Indian Sugar and Bio-energy Manufacturers Association (ISM) reported India's 2024/25 sugar production October 1 - December 31 was down -15.5% y/y to 9.54 MMT. The lower sugar output in India could prompt the government to keep export restrictions in place and limit global sugar supplies.
