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Barchart
Barchart
Rich Asplund

Sugar Prices Slump on Improving Global Supplies

India Thailand Brazil El Nino London the National Federation of Cooperative Sugar Factories USDA

March NY world sugar #11 (SBH24) on Monday closed -0.89 (-3.81%), and March London ICE white sugar #5 (SWH24) closed -16.70 (-2.55%)

Sugar prices Monday sold off to 5-1/2 month lows on improving global supplies.  Last week, India's food ministry directed local sugar mills to stop using sugar cane juice and syrup to produce ethanol in the 2023/24 supply year to boost sugar reserves.  Green Pool Commodity Specialists said this could add 2 MMT of sugar to India's domestic supplies.  

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