Sugar futures climbed to 18.5 cents per pound, recovering from a recent low of 17.6 cents on January 21st, supported by a stronger Brazilian real, which eased pressure on dollar-based futures. However, global sugar prices remain subdued due to high supply from major producers. India, the world’s second-largest producer, approved the export of 1 million tonnes of sugar this marketing year after achieving a supply surplus for the first time in eight seasons, with total production expected to exceed 27 million tonnes. Meanwhile, Brazil, the top sugar producer, is on track for a record-high output of 43.1 million tonnes, driven by favorable growing conditions and increased cane allocation for sugar production due to lower ethanol prices.

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