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Rich Asplund

Sugar Prices Settle Lower on Increased Sugar Production in Brazil

Brazil Unica India Thailand India Meteorological Department ISO the International Sugar Organization USDA

July NY world sugar #11 (SBN24) on Monday closed down -0.45 (-2.32%), and Aug London ICE white sugar #5 (SWQ24) closed down -13.60 (-2.42%).

Sugar prices retreated Monday on optimism that strong sugar production will continue in Brazil, the world's largest producer. Unica reported last Friday that Brazil's sugar production for the 2024/25 crop year through May is up +11.8% y/y at 7.837 MMT. Also, the percentage of Brazil's 2024/25 sugar cane crop crushed for sugar rose to 47.88% from 46.68% last year.

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