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Rich Asplund

Sugar Prices Stabilize After Sharp Weekly Loss

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

March NY world sugar #11 (SBH25) is up +0.11 (+0.57%), and March London ICE white sugar #5 (SWH25) is up +0.60 (+0.12%).

Sugar prices today are mildly higher on some consolidation after this week's sharp losses. On Thursday, NY sugar posted a 3-month low, and London sugar posted a 4-month low. Sugar fell Thursday after India's Food Secretary Chopra said India may allow sugar exports if there is a surplus once domestic ethanol blending requirements are met. The Indian government currently estimates a sugar surplus of about 1 MMT this season.

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