March NY world sugar #11 (SBH26) closed down by 0.17 cents (-1.18%) on Thursday, while March London ICE white sugar #5 (SWH26) decreased by 3.90 cents (-0.95%). The decline in sugar prices comes amid expectations of ongoing global sugar surpluses, with analysts from Czarnikow projecting a surplus of 3.4 million metric tons (MMT) for the 2026/27 crop year following an 8.3 MMT surplus in 2025/26.
India’s sugar output for the 2025-26 season is reported to increase by 22% year-on-year to 15.9 MMT as of January 15. The Indian Sugar Mill Association (ISMA) raised its overall production forecast to 31 MMT, up 18.8% from prior estimates, as the government considers additional sugar exports to alleviate domestic supply issues. Globally, the USDA projects a record sugar production of 189.318 MMT for the 2025/26 crop year, anticipating a rise in human sugar consumption to 177.921 MMT, marking a 1.4% increase year-on-year.
