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Barchart
Barchart
Rich Asplund

SHOCKING: Demand optimism lifts sugar prices - What They Never Told You

USDA Brazil India ISMA London NY Thailand

October NY world sugar #11 (SBV25) on Thursday closed up +0.33 (+2.03%), and October London ICE white sugar #5 (SWV25) closed up +8.80 (+1.87%).

Sugar prices rallied sharply on Thursday due to speculation that the recent slide in sugar prices to 4-year lows has sparked a pickup in demand.  China's June sugar imports soared by 1,435% to 420,000 MT.  Also, President Trump last Wednesday said Coca-Cola agreed to use cane sugar in Coke beverages sold in the US instead of high-fructose corn syrup, which could boost US sugar consumption by +4.4% to 11.5 MMT from 11 MMT currently, according to Bloomberg Intelligence.

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