Sugar prices are down today due to stronger sugar export outlooks from India and Thailand. India is expected to export 1.5 MMT in 2025/26, and Thailand’s exports are predicted to rise +11.8% y/y. London sugar hit a 5-week high on global demand signs, with China importing +76% more sugar in July.

Brazil’s sugar mills are increasing production, prioritizing sugar over ethanol. NY sugar hit a 2-month high due to concerns over Brazil’s cane yields. However, sugar output in Brazil fell in July. India may allow sugar exports in the upcoming season, leading to higher production forecasts.

India’s sugar production is projected to rise +19% y/y to 35 MMT in 2025/26. Sugar prices have been dropping due to expectations of a global surplus in the upcoming season. The USDA forecasted a record global sugar production for 2025/26, leading to a bearish outlook on prices.

Thailand reported a +14% y/y increase in sugar production for 2024/25. The ISO raised its global sugar deficit forecast to a 9-year high, indicating a tightening market. The USDA projected a record sugar production for 2025/26, with increased consumption and ending stocks. Brazil and India are expected to lead in production growth.

Read more at Yahoo Finance: Sugar Prices Retreat on Expectations of Stronger Exports from India and Thailand