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Barchart
Barchart
Rich Asplund

Sugar Prices Settle Lower on Above-Average Monsoon Rain in India

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

October NY world sugar #11 (SBV24) on Monday closed down -0.01 (-0.05%), and Aug London ICE white sugar #5 (SWQ24) closed down -14.30 (-2.49%).

Sugar prices Monday fell to 1-week lows as above-normal monsoon rain in India may boost sugar output in India and is bearish for sugar prices.  The Indian Meteorological Department reported Monday that India received 225.7 mm of rain during the current monsoon season as of July 7, up +2% from the comparable long-term average of 221.6 mm.

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