**Sugar Prices Decline Following India’s Export Decision**
On Tuesday, May NY world sugar #11 (SBK26) closed at $14.54, down 0.39 (-2.61%), and May London ICE white sugar #5 (SWK26) settled at $427.50, down 7.00 (-1.61%). Sugar prices hit a 2.5-week low after India’s Food Secretary announced that there are no plans to ban sugar exports this year, easing supply concerns as production increases.
Recent reports indicated that India’s sugar output for the 2025-26 season is projected to rise by 12% year-over-year to 29.3 million metric tons (MMT), while Brazil’s production is expected to reach 44.7 MMT, up 2.3% y/y. Additionally, global sugar production is predicted to increase 3% to 181.3 MMT in 2025-26, contributing to a potential global surplus of 3.4 MMT for the 2026/27 crop year.
