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Barchart
Barchart
Rich Asplund

Sugar Prices Retreat on Ramped-Up Production in Brazil

Brazil India Unica Thailand El Nino London NY USDA

Oct NY world sugar #11 (SBV23) on Wednesday closed down -0.29 (-1.08%), and Dec London white sugar #5 (SWZ23) closed down -4.80 (-0.66%).

Sugar prices Wednesday settled moderately lower on signs of strong sugar output in Brazil.  On Wednesday, Unica reported that Brazil Center-South sugar output in the second half of August rose +9.9% y/y to 3.461 MMT and that sugar output in the 2023/24 crop year through August rose +20% y/y to 26.146 MMT.  Also, 49.17% of the crushed sugarcane was used for sugar production this year, an increase from 45.16% last year.

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