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Rich Asplund

FORGOTTEN HISTORY: Sugar prices pressured by an improved global supply outlook | History Defined

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

March NY world sugar #11 (SBH25) today is down -0.18 (-0.93%), and March London ICE white sugar #5 (SWH25) is down -4.70 (-0.92%).

Sugar prices today are moderately lower, 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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