Oversupply pressures sugar prices

Sugar and ethanol markets have registered new price adjustment movements, amid a scenario of high supply and recent changes in fuel benchmarks. This information is contained in a report by consultancy StoneX, which monitors the performance of commodities and the energy sector. In the international market, sugar traded in New York closed last Friday quoted at US¢ 14.11 per pound-weight, accumulating a weekly decline of 16 points, equivalent to 1.12%. The contract expiring in March 2026 approached the quotation observed on November 11, when the product reached US¢ 14.10 per pound-weight, the lowest since October 2020. According to the analysis, the market continues to be pressured by an oversupply scenario, sustained by optimistic expectations regarding production in India and Brazil. The assessment points out that the combination of ample global availability and positive prospects for major producers maintains the downward bias in quotations. This environment limits attempts at a ...