THE sugar price fell further between January 6 and 13, both in refined and raw sugar. In New York, prices reached a four-month low for the expiration of the nearest futures contract, while in London, we found ourselves at an almost three-year low.
Increase in sugar production
The information of an increase in overall supply, published over the past three months, is weighing on the world sugar markets in this sense: reduction in the deficit (supply/demand) for the 2024/2025 campaign or even an increase in the surplus for the campaign 2023/2024. India, on December 19, announced that it could proceed with exports if its domestic needs for the ethanol industry were met. An increase in production in Thailand is also still expected. The price of raw sugar ended down (18.33 cents/pound on January 10, 2025 compared to 18.58 cents/pound on the 3rd) and that of refined sugar as well ($505.45/ton on January 10, 2025 versus $514.10/t on 3).
This article was written by specialist journalists from La Dépêche-Le petit Meunier, which has been supporting grain trade operators since 1938.
Belgium
