Global sugar prices are under pressure, with raw sugar prices dropping to an 18-month low of 18.81 cents per pound. This price level has been consistent since mid-May, reflecting market expectations of higher production in the coming seasons. Global sugar prices will likely come under pressure for the remainder of the current season to September and also the next season on hopes of higher production.
India extended restrictions on sugar exports from October 31 until further notice to maintain adequate domestic supplies. India allowed mills to export only 6.1 MMT of sugar during the 2022/23 season to September 30 after allowing exports of a record 11.1 MMT in the previous season. India is the second-largest sugar producer in the world. Without growth in India, global sugar production in 2024/25 is likely to fall.
Presentation- Dibybharati Nayak
