Sugar: Possibility of India exporting puts pressure on prices and NY sees new drop of over 1%

Sugar prices have been on a downward trend for the past six sessions, with losses reaching over 1% in New York due to the potential of India's return to exporting the sweetener. This could increase the global supply by at least 1 million tons. However, there is debate among analysts about India's actual availability for export, considering its ethanol blending requirements and previous export restrictions. Meanwhile, sugar prices in Brazil vary by region, with white crystal sugar in São Paulo slightly increasing in price, while crystal sugar in Santos has decreased.

Sugar prices fell again in Thursday's session (19). The losses were around 0.4% on the London Stock Exchange, while in New York, for raw sugar, they exceeded 1%. The new negative variation, which occurred for the sixth consecutive session, was motivated by the possibility of India returning to export the sweetener and increasing global supply by at least 1 million tons. In New York, the March/25 contract fell 0.25 cents, closing at 19.40 cents/lbp. May/25 fell 0.23 cents, closing the day at 18.05 cents/lbp, while July/25 fell 0.21 cents, trading at 17.63 cents/lbp. The October/25 contract also recorded losses, falling 0.21 cents, quoted at 17.60 cents/lbp. On the London Stock Exchange, contracts followed the losses. March/25 lost US$2.40, closing at US$509.20 per tonne, while May/25 fell US$2.90, trading at US$509.80. August/25 fell US$3.80, closing at US$497.90 per tonne, and October/25 fell US$4.20, quoted at US$491.20 per tonne. According to information released by Barchart on ...