On Friday, October NY world sugar #11 closed down by 1.69% at -0.28, while October London ICE white sugar #5 fell by 1.92% to -9.20. Sugar prices have faced downward pressure due to speculation that India may increase its sugar exports in the upcoming season starting in October.
India is projected to produce 35 million metric tons (MMT) of sugar in the 2025/26 season, a 19% increase year-on-year due to a rise in planted cane acreage. Meanwhile, Brazil’s sugar mills are expected to crush 54% of available cane this month, adding an estimated 3.2 MMT of sugar to the market. This comes as Brazil’s Center-South sugar output for 2025/26 dropped by 14.3% year-on-year to 12.249 MMT as of June.
The International Sugar Organization raised its 2024/25 global sugar deficit forecast to -5.47 MMT and projected a record global production of 189.318 MMT for 2025/26. Additionally, U.S. sugar consumption may increase by 4.4% to 11.5 MMT as Coca-Cola plans to use cane sugar in beverages.
