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On Monday, March NY world sugar #11 (SBH26) closed down -0.51 (-3.41%) and December London ICE white sugar #5 (SWZ25) fell -9.10 (-2.11%), marking a continuation of last Friday’s decline. This drop pushed NY sugar to a new 4.5-year low and London sugar to a new 4.25-year low.
Pressure on sugar prices has been attributed to increased sugar output in Brazil, with Unica reporting a 10.8% year-on-year increase in sugar production during the second half of September, totaling 3.137 million tons. Additionally, projections from Datagro indicate that Brazil’s sugar production will rise by 3.9% to a record 44 million tons in 2026/27.
India, the world’s second-largest sugar producer, is also expected to boost its sugar output by 19% in 2025/26 to 34.9 million tons, due to favorable monsoon conditions. This is contrasted by an earlier decline in production to a five-year low of 26.2 million tons in 2024/25.
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