“`html
As of today, March NY world sugar #11 (SBH26) is down 0.20 (-1.23%) to a 2.5-week low, while December London ICE white sugar #5 (SWZ25) is down 1.00 (-0.22%). The decline in sugar prices is attributed to falling crude oil prices, which dropped over 4% to a 5-month low, and the Brazilian Real hitting a 5-week low against the dollar.
On Tuesday, Covrig Analytics projected a global sugar surplus of 4.1 million metric tons (MMT) for the 2025/26 season, contributing to downward pressure on prices. Brazil’s Center-South sugar output increased by 15.7% year-on-year in the first half of September to 3.622 MMT, but cumulative 2025-26 output fell 0.1% y/y to 30.388 MMT. In India, the projected 2025/26 sugar production is expected to rise 19% to 34.9 MMT due to favorable monsoon rains.
Thailand’s sugar production is also expected to rise by 5% y/y to 10.5 MMT for the 2025/26 season. The International Sugar Organization forecasts a global sugar deficit for the upcoming season at 231,000 MT, with total global sugar consumption projected to reach 180.8 MMT.
“`
