As of today, July New York world sugar #11 is down 0.38 cents (-2.47%), and August London ICE white sugar #5 is down 13.40 cents (-2.94%). Sugar prices have fallen sharply due to a two-week high in the dollar index, prompting long liquidation in sugar futures.
On Wednesday, sugar prices rose to one-week highs influenced by tighter global supplies after India implemented a four-month ban on sugar exports until September 30. Datagro has revised its forecast for the global sugar surplus deficit in 2026/27 to -3.17 million metric tons from -2.26 million metric tons, while StoneX announced a predicted deficit of -550,000 metric tons for that same season.
Citigroup projected Brazil’s 2026/27 sugar production at 39.50 million metric tons, significantly lower than Conab’s estimate of 43.95 million metric tons, due to higher allocations of sugarcane for ethanol production amid rising gasoline prices. Concerns about supply disruptions from the closure of the Strait of Hormuz, impacting about 6% of the world’s sugar trade, are also contributing to price dynamics.
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