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Barchart
Barchart
Rich Asplund

Sugar Prices Undercut by the Outlook for a Global Surplus

India ISO the International Sugar Organization ISMA London Thailand Brazil FAs NY USDA

March NY world sugar #11 (SBH26) today is down -0.07 (-0.47%), and March London ICE white sugar #5 (SWH26) is up +2.10 (+0.50%).

Sugar prices today are mixed.  Prices have negative carryover from Monday when the International Sugar Organization (ISO) forecast a 1.625 million MT sugar surplus in 2025-26, following a 2.916 million MT deficit in 2024-25.  ISO said the surplus is being driven by increased sugar production in India, Thailand, and Pakistan.  In August, ISO had previously forecast a 231,000 MT deficit for the 2025-26 marketing year.  ISO is forecasting a +3.2% y/y rise in global sugar production to 181.8 million MT in 2025-26.

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