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Barchart
Barchart
Rich Asplund

Sugar Prices Tumble as Supply Concerns Ease

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

March NY world sugar #11 (SBH24) on Tuesday closed -0.85 (-3.29%), and March London ICE white sugar #5 (SWH24) closed -18.00 (-2.54%)

Sugar prices Tuesday fell sharply but remained above Monday's significant lows.  On Monday, NY sugar posted a 3-1/4 month low, and London sugar posted a 2-month low, as an increase in Brazil's sugar production alleviated supply concerns.  Last Wednesday, Conab raised its 2023/24 Brazil sugar production estimate by +15% to 46.9 MMT from an August estimate of 40.9 MMT.

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