Raw sugar reaches two-year low: Market sales and production expectations drive prices down

Prices for raw sugar fell to their lowest level in nearly two years, weighed down by a wave of sales in broader global markets and positive production outlooks in key growing countries such as Brazil and India. The most active contract recorded a decline of up to 2.5%, trading at 17.64 US cents per pound – the lowest level since October 2022. A significant factor in the price drop is Brazil's impressive export performance, the world's largest sugar producer. From the beginning of the year to July, Brazil exported about 20 million tons of sugar, representing a 40% increase compared to the previous year. The anticipated increase in sugar production in India also contributes to additional market pressure and bolsters the outlook for an abundant supply.