On March 28, 2024, sugar prices fell sharply, with May NY world sugar #11 (SBK26) closing down 2.18% and May London ICE white sugar #5 (SWK26) down 2.06%. This decline marks a one-month low for NY sugar and a three-week low for London sugar, amid easing concerns over India’s sugar export restrictions following statements from India’s Food Secretary.
Data indicates a significant increase in sugar production, with India’s output for the 2025-26 season projected to rise by 9% year-over-year to 27.12 million metric tons (MMT). Additionally, Brazil’s sugar output is forecasted to increase by 0.7% year-over-year to 40.25 MMT, as mills boost cane processing. Analysts predict a global sugar surplus of 3.4 MMT in the 2026-27 crop year.
Recent reports show India’s government has approved an additional 500,000 MT of sugar for export for the 2025-26 season, helping to alleviate domestic supply concerns. The USDA expects global sugar production to reach a record 189.318 MMT in the 2025-26 season, with consumption projected at 177.921 MMT.
