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Barchart
Barchart
Rich Asplund

Sugar Prices Settle Higher on Possible Smaller Indian Sugar Exports

March NY world sugar #11 (SBH26) on Wednesday closed up +0.27 (+1.89%), and December London ICE white sugar #5 (SWZ25) closed up +9.90 (+2.43%).

Sugar prices settled sharply higher on Wednesday, with NY sugar posting a 1-week high.  Short covering emerged in sugar futures on Wednesday on signs that India may export less sugar than initially expected, after Bloomberg reported that India's food ministry is considering a proposal to allow sugar mills to export 1.5 MMT in the 2025/26 season, below earlier estimates of 2 MMT.  India introduced a quota system for sugar exports in 2022/23 after late rains reduced production and limited domestic supplies.

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