Sugar prices closed mixed, with NY world sugar #11 up +0.14% and London ICE white sugar #5 down -0.33%. Short covering lifted prices as the Brazilian real rose, discouraging exports. Despite higher Brazilian production, a global sugar surplus estimate of 4.7 MMT weighs on prices, with a forecasted surplus of 1.4 MMT in 2026/27.

India’s record sugar output and potential for more exports are pushing prices down. The country’s sugar production is up 22% y/y, leading to a surplus. Brazil’s sugar production is expected to reach a record 45 MMT, with a possible price decline due to excessive long positions in futures. Thailand and other countries are also contributing to a global sugar surplus.

The United States Department of Agriculture predicts a record global sugar production of 189.318 MMT in 2025/26, with an increase in human sugar consumption. Brazil and India are expected to lead in production, with Brazil reaching 44.7 MMT and India at 35.25 MMT. Thailand is also projected to increase production. The surplus may drive prices down further.

Read more at Yahoo Finance: Sugar Prices Recover as the Brazilian Real Rallies