March sugar prices have declined, with New York’s world sugar #11 down 1.54% to $14.67 and London ICE white sugar #5 down 1.15% to $421.30. This drop follows increased sugar production estimates from major producers, including India and Brazil.
The India Sugar Mill Association (ISMA) reported that India’s sugar output for the 2025-26 season is projected at 31 million metric tons (MMT), an increase of 18.8% year-on-year. Concurrently, Brazil’s sugar production is expected to rise to 45 MMT, as estimated by Conab, Brazil’s crop forecasting agency. This growing output contributes to a global sugar surplus, which Covrig Analytics has raised to 4.7 MMT, further pressuring sugar prices.
In related forecasts, the USDA anticipates a 4.6% increase in global sugar production for 2025-26 to a record 189.3 million metric tons, driven by higher yields in India, Brazil, and Thailand.
