October NY world sugar #11 closed up +0.34 (+1.85%) on Wednesday, marking a 16.75-month high, while October London ICE white sugar #5 rose +5.20 (+0.97%) to a one-week high. This surge in sugar prices aligns with projections from the International Sugar Organization (ISO) predicting a global sugar deficit of -200,000 metric tons (MT) for the 2026/27 season, shifting from a +1.1 million MT surplus in 2025/26.
Green Pool Commodity Specialists also forecast a 2026/27 sugar deficit of -3.2 million MT, with the European Union anticipating a 19% decline in sugar production year-on-year to 13.4 million MT. Brazil’s June sugar production fell by 26.3% year-on-year to 3.903 million MT due to a focus on ethanol instead of sugar. The USDA projects that global sugar production will decrease by 6.5% in 2026/27, totaling 184.854 million MT, against a backdrop of increasing human consumption expected to reach a record 179.991 million MT.
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