October NY world sugar #11 (SBV25) today is up +0.12 (+0.72%), and October London ICE white sugar #5 (SWV25) is up +4.30 (+0.89%).
Sugar prices today extended this week's gains, with NY sugar posting a 1.5-month high and London sugar posting a 1.75-month high. Signs of stronger global sugar demand are supporting prices. China's June sugar imports soared by 1,435% to 420,000 MT. Also, President Trump on 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.
