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Barchart
Barchart
Rich Asplund

Sugar Prices Weighed Down by Weak Demand and Abundant Supply

Brazil Green Pool Commodity Specialists India Thailand USDA

May NY world sugar #11 (SBK25) Thursday closed down -0.07 (-0.38%), and May London ICE white sugar #5 (SWK25) closed down -5.10 (-0.98%).

Sugar prices on Thursday dropped to 6-week lows due to demand concerns amid abundant supplies.  Weak demand is hammering sugar prices after sugar traders Wilmar International Ltd and Sucres et Denrees SA took record delivery of 1.7 MMT of raw sugar against the March NY futures contract that expired last Friday.  Large deliveries are typically considered bearish for prices, indicating that sellers have few other markets to sell to.  

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