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Barchart
Barchart
Rich Asplund

Sugar Prices Settle Higher on Signs of Stronger Global Sugar Demand

London NY USDA India Thailand Brazil FAs ISMA

October NY world sugar #11 (SBV25) on Friday closed up +0.08 (+0.48%), and October London ICE white sugar #5 (SWV25) closed up +3.70 (+0.76%).

Sugar prices extended this week's gains on Friday, with NY sugar posting a 1.5-month high and London sugar posting a 1.75-month high.  Signs of stronger global sugar demand are supporting prices.  China's June sugar imports soared by 1,435% to 420,000 MT.  Also, President Trump on Wednesday said Coca-Cola agreed to use cane sugar in Coke beverages sold in the US instead of high-fructose corn syrup, which could boost US sugar consumption by +4.4% to 11.5 MMT from 11 MMT currently, according to Bloomberg Intelligence.

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