Prices for sugar remain under pressure from a record deficit.

The global sugar market in 2025 faced a significant drop in prices. The value of raw sugar No. 11 has decreased by over 20% since the beginning of the year, updating the lows from October 2020. The main reason is the expected transition of the market from a deficit to a large surplus of supply amid favorable conditions in sugar cane producing countries and falling oil prices. On the London Stock Exchange, March futures for white sugar No. 5 fell 3.1% over the week to $415.9/t (-1% for the month, -17.8% for the year). March futures for cane sugar No. 11 in the US fell 2.5% over the week to $14.48/lb or $319/t (-1.5% for the month, -33% for the year). Key factors influencing the market were: Prices in Europe fell 30% over the year due to high domestic production and imports. The EU introduced restrictions on the import of Ukrainian sugar (limit of 100 thousand tons), which, amid a reduction in beet plantings in Europe, is expected to stabilize prices in the region in 2026. The ...