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Barchart
Barchart
Rich Asplund

Sugar Prices Retreat on Ramped-Up Brazil Sugar Production

Brazil Unica India NY Thailand London the Indian Sugar and Bioenergy Manufacturers Association USDA

October NY world sugar #11 (SBV24) today is down -0.37 (-1.87%), and Aug London ICE white sugar #5 (SWQ24) is down -5.40 (-0.97%).

Sugar prices today are sharply lower, with NY falling to a 2-week low.  Ramped-up sugar output in Brazil is bearish for prices after Unica reported today that Brazil's sugar production for the 2024/25 crop year through June was up +15.7% y/y at 14.2 MMT.  Also, the percentage of Brazil's 2024/25 sugar cane crop crushed for sugar rose to 48.72% from 47.69% last year.  

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