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Barchart
Rich Asplund

Sugar Prices Settle Lower as India Boosts Sugar Exports

India London NY Brazil ISO Thailand USDA

March NY world sugar #11 (SBH25) Tuesday closed down -0.43 (-2.36%), and March London ICE white sugar #5 (SWH25) closed down -7.90 (-1.673%).

On Tuesday, sugar prices extended their 3-1/2 month-long sell-off, with NY sugar posting a 5-month nearest-futures low and London sugar posting a 3-1/3 year low.  An improving global sugar supply outlook weighed on sugar prices.  On Monday, India said it would allow its sugar mills to export 1 MMT of sugar this season, easing its restrictions placed on sugar exports in 2023.  India has restricted sugar exports since October 2023 to maintain adequate domestic supplies.  India allowed mills to export only 6.1 MMT of sugar during the 2022/23 season to September 30 after allowing exports of a record 11.1 MMT in the previous season.  

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