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Barchart
Barchart
Rich Asplund

Sugar Prices Retreat on a Possible Increase in India's Sugar Exports

India ISO Ethanol FAs ISMA London NY Oil USDA

May NY world sugar #11 (SBK26) on Tuesday closed down -0.39 (-2.61%), and May London ICE white sugar #5 (SWK26) closed down -7.00 (-1.61%).

Sugar prices tumbled to 2.5-week lows on Tuesday and settled sharply lower after India ruled out a ban on its sugar exports, which could boost global supplies.  On Tuesday, India's Food Secretary said that the government has no plans to ban sugar exports this year, easing concerns that it could divert more sugar to make ethanol after the Iran war disrupted crude oil supplies.  

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