Morning Sugar Market Update – 24/07/2025
Sugar prices declined on July 23, 2025, with NY raw sugar closing at 16.24¢/lb (-0.04) and London white sugar at \$471.40/ton (-0.80), hitting multi-week lows. The fall followed speculation India may allow sugar exports next season due to favorable monsoon rains, which are currently 6% above normal, raising bumper crop expectations.
Yesterday’s closing dated – 23/07/2025
◾London White Sugar #5 (SWV25) – 471.40s (-0.80)
◾NYBOT Raw Sugar #11 (SBV25) – 16.24s (-0.04)
◾USD/BRL- 5.5212 (-0.0445)
◾USD/INR – 86.267 (-0.103)
◾Corn (ZCN25) – 412-6s (+9-6)
◾Ethanol Chicago $/gal – 1.76500s (-0.03500)
◾Brent Crude – $68.51/bbl (-0.08)
◾BSE Sensex – 82726.64 (+539.83)
◾NIFTY50 – 25219.90 (+159.00)
October NY world sugar #11 (SBV25) on Wednesday closed down -0.04 (-0.25%), and October London ICE white sugar #5 (SWV25) closed down -0.80 (-0.17%).
Sugar prices extended this week’s slide on Wednesday, with NY sugar posting a 2.5-week low and London sugar posting a 2-week low. Sugar prices were under pressure on Wednesday due to speculation that India may boost its sugar exports after a Bloomberg report stated that the country may permit local sugar mills to export sugar in the next season, which starts in October, as abundant monsoon rains may produce a bumper sugar crop. India’s Meteorological Department reported Monday that cumulative monsoon rain in India is 6% above normal as of July 21.
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Source : Chinimandi
