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Barchart
Barchart
Rich Asplund

EXPLAINED: Sugar prices close moderately lower as global supply outlook improves | Rare Historical Photos

India London NY Brazil Thailand the Indian Sugar and Bioenergy Manufacturers Association the International Sugar Organization Unica USDA

March NY world sugar #11 (SBH25) Monday closed down -0.24 (-1.24%), and March London ICE white sugar #5 (SWH25) closed down -5.10 (-1.00%).

Sugar prices Monday posted moderate losses, with NY sugar sliding to a 3-1/2 month nearest-futures low and London sugar dropping to a 2-3/4 year low.  Over the past three months, sugar prices have been trending lower on an improved global supply outlook.  On November 21, the International Sugar Organization (ISO) reduced its 2024/25 global sugar deficit forecast to -2.51 MMT, compared to an August forecast of -3.58 MMT.  ISO also raised its 2023/24 global sugar surplus estimate to 1.31 MMT from an August projection of +200,000 MT.  

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