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Rich Asplund

Sugar Prices Sink as Brazil's Sugar Production Prospects Improve

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

March NY world sugar #11 (SBH25) today is down -0.91 (-4.40%), and March London ICE white sugar #5 (SWH25) is down -15.60 (-2.95%).

Sugar prices are plummeting today, with NY sugar posting a 3-month low and London sugar posting a 4-month low. Brazil's larger-than-expected sugarcane crush is weighing on sugar prices. Last Thursday, Unica reported that Brazil crushed 20.35 MMT of sugarcane in the second half of November, above expectations of 15.5 MMT.

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