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Barchart
Barchart
Rich Asplund

MYSTERIOUS: Sugar prices gain as iso cuts production and surplus estimates - What They Never Told You

ISO the International Sugar Organization India Brazil ISMA London NY

July NY world sugar #11 (SBN23) on Monday closed up +0.21 (+0.81%), and Aug London white sugar #5 (SWQ23) closed up +2.90 (+0.41%).

Sugar prices Monday closed moderately higher after the International Sugar Organization (ISO) cut its 2022/23 global sugar production and sugar surplus estimates.  The ISO cut its 2022/23 global sugar production estimate to 177.4 MMT from a previous estimate of 180.4 MMT and cut its 2022/23 global sugar surplus estimate to 852,000 MT from a previous estimate of 4.15 MMT.  ISO on May 4 forecasted the global 2023/24 sugar surplus at +2.1 MMT.  

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