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Rich Asplund

Sugar Prices Weaken on the Prospects of a Global Sugar Surplus

Covrig Analytics India Brazil Thailand the Indian Sugar and Bioenergy Manufacturers Association Unica USDA

October NY world sugar #11 (SBV24) on Wednesday closed down -0.26 (-1.33%), and Oct London ICE white sugar #5 (SWV24) closed down -4.20 (-0.75%).

Sugar prices Wednesday settled moderately lower on the outlook for a global sugar surplus next year. Covrig Analytics said Wednesday that it expects the 2024/25 global sugar market to be in surplus by +182,000 MT, above a previous estimate for a -2.6 MMT deficit.

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