Sugar prices fell sharply on November 17, with March NY world sugar #11 (SBH26) decreasing by 2.40% to $14.64 and March London ICE white sugar #5 (SWH26) down 1.87% to $420.50. This decline is attributed to the India Sugar Mill Association (ISMA) raising its 2025/26 sugar production estimate by 18.8% year-over-year to 31 million metric tons (MMT), following a reported jump in production for the 2025-26 period from 9.54 MMT to 11.90 MMT.
Additionally, India’s food ministry announced the potential for 1.5 MMT in sugar exports for the 2025/26 season to alleviate domestic oversupply. This comes amid expectations of increased sugar production in India, Thailand, and a forecasted global sugar surplus of 1.625 MMT for 2025-26, as per the International Sugar Organization.
