March NY world sugar #11 closed down by 1.60% to $14.14, while March London ICE white sugar #5 fell by 1.80% to $395.60 on Tuesday. This decline marks a continued downtrend, with NY sugar reaching a three-month low and London hitting a five-year nearest-futures low due to ongoing concerns regarding global sugar surpluses.
As reported by Unica, Brazil’s sugar output for 2025-26 increased by 0.9% year-on-year to 40.236 million metric tons (MMT) through mid-January. Simultaneously, analysts project a global sugar surplus of 3.4 MMT for the 2026-27 crop year, following an estimated surplus of 8.3 MMT for 2025-26. In India, the sugar output for the same period rose by 22% year-on-year to 15.9 MMT, as the India Sugar Mill Association adjusted its production estimate upward to 31 MMT for 2025-26, a rise of 18.8% year-on-year.
