Sugar futures in the US continued to fall to near 15.2 US cents, reaching the lowest in two weeks, partly influenced by falling crude oil prices on easing geopolitical concerns. Hostilities in the Middle East have recently pushed sugar prices to near six-month highs, as the conflict severely disrupted maritime traffic through the Strait of Hormuz, a key route for raw sugar destined for local refineries and white sugar exports.

Nevertheless, ample global supply, particularly from Brazil, continues to weigh on prices. On March 27, Unica reported that accumulated sugar production in the Center-South region for the 2025/26 harvest increased 0.7% year-on-year to 40.25 million tons. Notably, the share of sugarcane allocated for sugar production rose to 50.61%, up from 48.08% last year. Meanwhile, Czarnickov raised its global production estimate for the 2025/26 season by 100,000 tons to 184.5 million metric tons, the second-highest on record, even after revising down India’s output.

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