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Barchart
Barchart
Rich Asplund

Sugar Prices Slip as India Keeps Open the Possibility of Sugar Exports

India NY Thailand El Nino London Brazil USDA

March NY world sugar #11 (SBH24) on Thursday closed -0.19 (-0.69%), and Dec London white sugar #5 (SWZ23) closed -4.00 (-0.54%).

Sugar prices on Thursday posted moderate losses after India's Food Secretary said his country is not likely to face any shortage of sugar in the domestic market, which opens up the possibility it may resume sugar exports.  Indian Food Secretary Chopra said India's sugar reserves as of Oct 1 totaled 5.7 MMT, enough to meet demand for 2-1/2 months, and that it will decide whether to allow sugar exports after assessing its cane production.

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