October NY world sugar #11 (SBV24) Tuesday closed down -0.45 (-2.50%), and Oct London ICE white sugar #5 (SWV24) closed down -11.20 (-2.18%).
Sugar prices Tuesday posted sharp losses, with NY sugar falling to a 1-3/4 year nearest-futures low and London sugar dropping to a 2-1/2 year low. Sugar prices have been under pressure over the past six weeks on signs of robust global supplies. Last Tuesday, Unica reported that Brazil's Center-South sugar production in the marketing year through July was up by +8% y/y at 20.753 MMT.
