October New York world sugar #11 (SBV26) has risen by 0.13 (+0.88%) to reach a 7-week high, while August London ICE white sugar #5 (SWQ26) is up by 9.30 (+1.96%). These increases are attributed to concerns over weakened monsoon rains in India, which are reported to be 38% below normal as of July 1, raising fears about reduced sugar yields in the world’s second-largest producer.
India’s Meteorological Department warns that this year’s monsoon could be the weakest in 11 years, impacting the sugarcane harvest. Additionally, Brazil’s sugar production is forecasted to decline by 2% year-on-year, as millers increasingly pivot towards ethanol production. The USDA anticipates a global sugar deficit for 2026/27 of approximately 262,000 MT, attributed to potential adverse impacts from an El Niño weather pattern affecting India and Thailand.
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