October NY world sugar #11 (SBV26) increased by 0.13 (+0.88%) to $14.84, while August London ICE white sugar #5 (SWQ26) closed up 5.30 (+1.14%) at $466.80. Sugar prices rose following Brazil’s National Energy Policy Council decision to raise the mandatory ethanol blend in gasoline from 30% to 32%, potentially shifting sugar mills towards ethanol production.
The Indian Meteorological Department reported that as of July 13, monsoon rainfall was 19% below normal, an improvement from 42% on June 30. Concerns persist over India’s predicted weak monsoon, with forecasts suggesting this could be the driest in 11 years, impacting the world’s second-largest sugarcane harvest. Additionally, the USDA expects a 6.5% year-over-year decrease in global sugar production for 2026/27, anticipating it will drop to 184.854 million metric tons.
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