On January 1, 2024, March NY world sugar #11 (SBH26) dropped by 0.22% to settle at a one-week low, amid bearish market conditions fueled by rising sugar production in Brazil. The country’s cumulative 2025-26 sugar output rose by 0.9% year-over-year to 40.158 million metric tons (MMT), according to Unica. Concurrently, the Brazilian real reached a one-week low against the dollar, promoting increased export sales.
Additionally, Covrig Analytics projected a global sugar surplus of 4.7 MMT for 2025/26—up from 4.1 MMT in October—while anticipating a decline to 1.4 MMT in 2026/27 due to lowered production from Brazil, expected to drop by 3.91% to 41.8 MMT. In India, the sugar production for the first quarter saw a significant increase of 25% year-over-year, further contributing to the downward pressure on prices.
