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Barchart

Rich Asplund

Sugar Prices Rebound as ISO Projects a Global Sugar Deficit

ISO Deficit India the International Sugar Organization Thailand El Nino Brazil London NY USDA

March NY world sugar #11 (SBH24) on Monday closed +0.63 (+2.35%), and Dec London white sugar #5 (SWZ23) closed +16.30 (+2.24%).

Sugar prices on Monday recovered from 1-week lows and rallied moderately after the International Sugar Organization (ISO) forecasted that 2023/24 global sugar production (Oct-Sep) will fall -1.2% y/y to 174.8 MMT, and there will be a 2023/24 global sugar deficit of -2.1 MMT.

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