As of today, March NY world sugar #11 (SBH26) is down 0.15 (-1.01%), while March London ICE white sugar #5 (SWH26) has decreased by 3.70 (-0.90%). This decline is attributed to an increase in global sugar production, with Brazil’s sugar output for the 2025-26 season projected to rise by 0.9% year-over-year to 40.222 million metric tons (MMT).
India’s sugar production for the same season is also on the rise, expected to increase by 18.8% to 31 MMT. The Indian Sugar Mill Association reported a 22% year-over-year increase in output from October 1 to January 15, totaling 15.9 MMT. Additionally, India’s food ministry has permitted the export of 1.5 MMT of sugar for the 2025-26 season to alleviate a domestic surplus.
Global sugar production is forecasted to rise by 3.2% in 2025-26, reaching an estimated 181.8 MMT, while consumption will increase by 1.4% to a record 177.921 MMT. The International Sugar Organization has indicated a projected surplus of 1.625 MMT, caused by increased production in India, Thailand, and Pakistan.
