March NY world sugar #11 (SBH26) is down 0.11 cents (-0.72%), while March London ICE white sugar #5 (SWH26) closed up 3.30 cents (+0.76) on Wednesday. Sugar prices in NY faced downward pressure following a report from Safras & Mercado predicting a 3.91% decrease in Brazil’s sugar production for 2026/27 to 41.8 million metric tons (MMT), with exports expected to drop 11% year-over-year to 30 MMT.
The India Sugar Mill Association (ISMA) recently increased its 2025/26 sugar production estimate to 31 MMT, an 18.8% year-over-year rise. Notably, sugar production in India from October 1 to December 15 recently saw a significant increase of 28% year-over-year, reaching 7.83 MMT. Meanwhile, Conab reported that Brazil’s 2025/26 sugar production forecast has been raised to 45 MMT, up from 44.5 MMT, leading to an anticipated global sugar surplus of 1.625 million metric tons for the 2025-26 period, following a deficit of 2.916 million metric tons in the previous year.
