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Barchart
Barchart
Rich Asplund

Sugar Prices Rebound as Citigroup Projects Global Sugar Deficits

Citigroup Deficit Brazil India CenterSouth Drought Thailand the Indian Sugar and Bioenergy Manufacturers Association the International Sugar Organization USDA

March NY world sugar #11 (SBH25) today is up +0.51 (+2.41%), and March London ICE white sugar #5 (SWH25) is up +12.50 (+2.29%).

Short covering pushed sugar prices moderately higher today after Citigroup forecasted global sugar deficits for the 2024/25 and 2025/26 crop years.  Citigroup projects a 2024/25 global sugar deficit of -2.3 MMT and a 2025/26 global sugar deficit of -1.3 MMT, citing prolonged drought and excessive rains that followed in Brazil's Center-South, the country's main sugar-growing region.

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