**Sugar Prices Show Mixed Trends Amid Supply Concerns**
On Friday, October NY world sugar #11 (SBV26) closed at +0.09 (+0.51%), while October London ICE white sugar #5 (SWV26) closed down -0.60 (-0.11%). These fluctuations come as the global sugar market grapples with anticipated supply shortages, especially after India’s Directorate General of Foreign Trade announced that it would allow tax-free imports of up to 1 million metric tons of raw sugar until October 31 to meet expected demand surges during the festive season.
Analysts forecast significant global sugar deficits in the upcoming years, with Covrig Analytics projecting a -300,000 metric ton deficit for 2026/27, a stark contrast to earlier surplus predictions. Concurrently, Brazil’s June sugar production fell by 26.3% year-on-year, and with the risk of drought conditions from an emerging El Niño, global sugar output could face further disruptions. Current estimates also show that the European Union and UK sugar production is set to decline to its lowest level in 11 years at 14.98 million metric tons this year.
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