Sugar Market Update

Sugar futures surged to around 19.5 cents per pound, the highest since early January, driven by the strong Brazilian real and reduced concerns over supply abundance. Indian exporters are facing challenges in securing contracts despite the government allowing 1 million tons of sugar exports to stabilize local prices. With India’s export deals priced higher than global rates, traders are delaying contracts, hoping for price gains by September 2025. Meanwhile, Brazil’s sugarcane milling reached 613.6 million tons by December 2024, making the 2024/2025 harvest the third largest in the Center-South region, with potential to rank second depending on upcoming results.

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