On Thursday, October NY world sugar #11 closed at $0.01 (+0.06%) and October London ICE white sugar #5 rose by $4.80 (+0.98%), reaching a six-week high. This price increase is attributed to Pakistan’s announcement of plans to import 100,000 metric tons of refined white sugar as part of a total anticipated import of 750,000 metric tons for the year.
Brazil’s government crop forecasting agency, Conab, recently revised its 2025/26 sugar production estimate down by 3.1% to 44.5 million metric tons, contributing to the upward pressure on prices. In contrast, India’s sugar production outlook remains robust, with projections of a 19% increase for 2025/26 to 35 million metric tons, fueled by favorable growing conditions from monsoon rains.
As of August 22, cumulative monsoon rainfall in India was reported at 650.3 mm, 2% above normal. This potential for increased sugar exports from India, along with global projections of a 7.5 million metric ton surplus for the 2025/26 season, is expected to exert downward pressure on sugar prices going forward.
