**Sugar Prices Decline Amid Surplus Forecasts**
On February 12, sugar prices hit a 5.25-year low, with May NY world sugar #11 (SBK26) down 0.04 (-0.29%) and May London ICE white sugar #5 (SWK26) down 0.20 (-0.05%). The International Sugar Organization (ISO) predicts a global sugar surplus of 1.22 million metric tons (MT) for the 2025-26 season, following a deficit of 3.46 million MT in 2024-25, driven by increased production in India, Thailand, and Pakistan.
The USDA forecasts global sugar production will rise by 4.6% year-on-year to a record 189.318 million MT in 2025-26, while human consumption is projected to increase by 1.4% to 177.921 million MT. Meanwhile, Brazil’s sugar production is expected to decrease by 3.91% to approximately 41.8 million MT in 2026-27, while Indian production for 2025-26 is projected at 29.3 million MT, up by 12% year-on-year.
