On October 10, 2023, October NY world sugar #11 closed up 0.06 (+0.37%) and October London ICE white sugar #5 closed up 1.10 (+0.23%). This increase comes after a series of sharp declines, fueled by expectations that Brazil’s sugar mills will boost sugar production in response to drier cane crops.
Brazil’s sugar production for the 2025-26 season is projected to fall by 3.4% year-on-year to 44.118 million metric tons (MMT), according to Conab, and the yield for the second half of July was reported to be down 0.8% year-on-year. In contrast, India’s 2025-26 sugar production is expected to rise 19% year-on-year to 35 MMT, driven by increased cane acreage, which poses a bearish outlook on global sugar prices.
