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Barchart
Barchart
Rich Asplund

Sugar Prices Retreat on Higher Sugar Production in Brazil

Brazil Unica India Thailand El Nino London USDA

March NY world sugar #11 (SBH24) on Friday closed -0.49 (-1.76%), and Dec London ICE white sugar #5 (SWZ23) closed -9.30 (-1.23%).

Sugar prices Friday retreated on an increase in sugar production in Brazil.  Friday’s report from Unica showed that Brazil Center-South sugar output in the second half of October rose +9.4% y/y to 2.350 MMT and that sugar output in the 2023/24 crop year through October rose +22.6% y/y to 37.215 MMT.  Also, 49.39% of the crushed sugarcane was used for sugar production this year, an increase from 45.83% last year.

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