“`html
Sugar prices fell slightly on December 4, 2023, with March NY world sugar #11 down by 0.20% to $0.15 per pound and March London ICE white sugar #5 down by 0.09% to $446.80 per metric ton. This drop followed reports from the India Sugar Mill Association (ISMA) indicating a 43% year-on-year increase in India’s sugar production, reaching 4.11 million metric tons.
Brazil’s sugar production forecast for the 2025/26 season has also been raised to 45 million metric tons, contributing to a bearish outlook for global sugar prices. The International Sugar Organization warned of a projected surplus of 1.625 million metric tons in 2025-26, shifting from a deficit of 2.916 million metric tons in the previous year.
Notably, India’s cumulative monsoon rainfall this year was reported at 937.2 mm, 8% above normal, which has been linked to increased sugar crop expectations. The USDA forecasts global sugar production to rise by 4.7% year-on-year to a record 189.318 million metric tons in 2025/26.
“`
