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Barchart
Barchart
Rich Asplund

Sugar Prices Slump on the Outlook for a Bumper Brazil Sugar Crop

Brazil Conab India ISMA ISO London

July NY world sugar #11 (SBN23) on Tuesday closed down -0.40 (-1.57%), and Aug London white sugar #5 (SWQ23) closed down -18.00 (-2.53%).

Sugar prices retreated Tuesday on farmer hedge selling ahead of the upcoming Brazil sugar harvest.  Conab on Apr 26 forecasted that Brazil's 2023/24 sugar output would climb +4.7% y/y to 38.8 MMT, the second most ever, as crops recover from the previous season's adverse weather.

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