Raw sugar futures hover below 15 cents as expectations of ample global supply offset concerns over production cuts.

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智通财经2026/07/29 17:47

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The price of raw sugar continues to fluctuate below 15 cents per pound, marking a decline of over 10% compared to the same period last year. Expectations of abundant global supply are leading market sentiment, while emerging production reduction risks have not yet provided effective support.
Improved monsoon rainfall in India has significantly boosted sugarcane production prospects. At the same time, the government has introduced measures to limit inventory holdings to ensure sufficient domestic market supply, making this the most bearish factor in the current market.
Weakening crude oil prices are putting further pressure on sugar prices. The drop in ethanol prices is prompting major producers like Brazil to shift more sugarcane towards sugar production rather than ethanol, and this adjustment in processing ratios is intensifying supply-side pressure.
However, the downside is somewhat limited. The global sugar market is expected to face a supply-demand gap in the 2026/27 season. Production forecasts for Brazil and Thailand have been revised down, the impact of El Niño on key regions remains uncertain, and the United States Department of Agriculture, after data revisions, has lowered its estimate of domestic sugar inventories, with initial signs of tightening domestic supply beginning to emerge.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Raw sugar futures hover below 15 cents as expectations of ample global supply offset concerns over production cuts.

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