On Thursday, October New York world sugar #11 (SBV26) closed at $14.60, down $0.07 (-0.48%), while October London ICE white sugar #5 (SWV26) closed at $454.00, down $1.70 (-0.37%). Sugar prices have hit a one-month low amid rising prospects for higher sugar production in India due to improved monsoon rains.
India’s Meteorological Department reported that cumulative monsoon rainfall was 15% below normal as of July 29, an improvement from 42% below normal on June 30. The Indian monsoon season runs from June through September and is critical for sugar production. Additionally, Green Pool Commodity Specialists increased their global 2026/27 sugar deficit estimate from -1.76 million metric tons (MMT) to -3.3 MMT, while StoneX raised theirs to -1.7 MMT from -550,000 MT.
The U.S. Climate Prediction Center indicated that the ongoing El Niño could disrupt sugar production in Brazil, India, and Thailand—three of the largest global producers. USDA forecasts a drop in 2026/27 global sugar output to 184.854 MMT, a 6.5% decrease year-on-year, juxtaposed with an expectation of increased human sugar consumption at 179.991 MMT.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
