On Thursday, October NY world sugar #11 (SBV25) closed down -0.30 to $16.29 per pound (-1.81%), while August London ICE white sugar #5 (SWQ25) fell -10.00 to $481.50 per ton (-2.03%). This decline in sugar prices is attributed to a stronger US dollar, which reached a two-week high, prompting long liquidation in sugar futures.
Concerns regarding global sugar supply tightening have influenced recent market movements, with Pakistan and the Philippines announcing intentions to import 924,000 metric tons of sugar. However, projections indicate a significant global sugar surplus of 7.5 million metric tons for the 2025/26 season, driven by increased production expectations in India (+19% y/y to 35 million metric tons) and Brazil (+2.3% y/y to 44.7 million metric tons). The USDA has forecast record global sugar production of 189.318 million metric tons for 2025/26.
