Prices for sugar are rising following production cuts in Brazil: analysis of sugar market futures.

Last week, sugar futures for March closed higher, driven by a decrease in production in Brazil. Prices rose slightly due to a 16.2% decrease in production, reaching 2.829 million tons. However, the price increase was limited by the expected production growth of 1.5% by the 2024/25 season.

13 October 2024

Last week, futures for March sugar No. 11 (SBH25) closed with a moderate increase of +0.08 (22.24; +0.36%), while December futures for white sugar No. 5 (SWZ24) in London ended the week with a rise of +2.10 (575.00; +0.37%), according to Barchart.

Sugar prices edged up on Friday due to a reduction in sugar production in Brazil. Unica, a reputable organization, reported a 16.2% year-on-year decrease in sugar production in the Center-South region of Brazil, leading to a reduction in volume to 2.829 million tons in the second half of September. However, the price increase was limited as sugar production in the Center-South region is expected to grow by +1.5% to 33.154 million tons by September 2024/25.

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Prices for sugar are rising following production cuts in Brazil: analysis of sugar market futures.

Last week, sugar futures for March closed higher, driven by a decrease in production in Brazil. Prices rose slightly due to a 16.2% decrease in production, reaching 2.829 million tons. However, the price increase was limited by the expected production growth of 1.5% by the 2024/25 season.

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