Sugar prices closed mixed, with NY world sugar #11 up +0.02 and London ICE white sugar #5 down -3.00. Increased sugar production in India is limiting price upside, with a +43% y/y jump in production reported. Brazil also expects record sugar output, bearish for prices. India may boost ethanol prices, reducing sugar supplies.

The International Sugar Organization forecasts a 1.625 million MT surplus in 2025-26, driven by increased production in India, Thailand, and Pakistan. Global sugar production is expected to rise by +3.2% y/y to 181.8 million MT. Bearish market conditions since October with higher output in Brazil and talk of a global surplus.

India projects a +19% y/y increase in sugar production for 2025/26, potentially leading to higher exports. Monsoon rains in India have been abundant, promising a bumper sugar crop. Thailand also expects a +5% y/y increase in sugar production. USDA predicts record global sugar production and consumption for 2025/26.

Read more at Yahoo Finance: Sugar Prices Settle Mixed on Higher Indian Sugar Production