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Barchart
Barchart
Rich Asplund

Sugar Prices Soar as India's Sugar Output Declines

India London NY Brazil ISMA Thailand

May NY world sugar #11 (SBK23) on Wednesday closed up +0.48 (+2.14%), and May London white sugar #5 (SWK23) closed up +27.10 (+4.26%).

Sugar prices Wednesday rallied sharply, with NY sugar posting a 6-1/2 year nearest-futures high and London sugar posting an 11-year high.  A slowdown in sugar output in India sparked fund buying of sugar futures Wednesday after the Indian Sugar Mills Association (ISMA) reported India's Oct-Mar sugar production fell -3.3% y/y to 29.96 MMT.  India is the world's second-largest sugar producer.

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