**Sugar Market Update: Price Decline Amid Strong Supply Expectations**
On April 17, sugar prices experienced a downturn, with May NY world sugar #11 closing down 0.72% at $13.74 and August London ICE white sugar #5 down 1.88% at $427.10. This decline follows a brief advance spurred by rising gasoline prices, which reached a 3.75-year high. Market analysts attribute this price pressure to expectations of a substantial Brazilian sugar harvest, with Conab forecasting Brazil’s 2025/26 production to rise by 0.1% year-on-year to 44.196 million metric tons (MMT).
In related news, India’s sugar production has seen a significant increase, with the National Federation of Cooperative Sugar Factories reporting a rise of 7.7% year-on-year to 27.48 MMT for the October 1-April 15 period. The International Sugar Organization projected a global sugar surplus of 1.22 MMT for 2025-26, driven by higher outputs from India, Thailand, and Pakistan. Meanwhile, the USDA predicts Brazil’s sugar production in 2025/26 will reach 44.7 MMT, marking a 2.3% rise year-over-year.
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