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Barchart
Barchart
Rich Asplund

UNCOVERED: Sugar prices rebound as citigroup projects global sugar deficits - Caught on Camera

Citigroup Deficit Brazil India CenterSouth Drought Thailand the Indian Sugar and Bioenergy Manufacturers Association the International Sugar Organization USDA

March NY world sugar #11 (SBH25) today is up +0.51 (+2.41%), and March London ICE white sugar #5 (SWH25) is up +12.50 (+2.29%).

Short covering pushed sugar prices moderately higher today after Citigroup forecasted global sugar deficits for the 2024/25 and 2025/26 crop years.  Citigroup projects a 2024/25 global sugar deficit of -2.3 MMT and a 2025/26 global sugar deficit of -1.3 MMT, citing prolonged drought and excessive rains that followed in Brazil's Center-South, the country's main sugar-growing region.

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