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Sugar prices fell to three-week lows on May NY world sugar #11 (SBK26), down 1.99% to $14.28, and May London ICE white sugar #5 (SWK26), down 1.49% to $425.10. The decline is attributed to a 16% drop in crude oil prices, affecting ethanol values and prompting increased sugar production globally.
India’s Food Secretary confirmed no plans to ban sugar exports for 2023, alleviating concerns over reduced domestic supplies due to ethanol production. Meanwhile, India’s National Federation of Cooperative Sugar Factories Ltd. reported a 9% increase in sugar output for 2025-26 to 27.12 million metric tons (MMT), and Brazil’s sugar output rose by 0.7% to 40.25 MMT in the same period.
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