Outlook for the global sugar market in 2024/25

StoneX has released the first review for the 2024/25 global sugar harvest (October-September). The report points to the maintenance of a global surplus, although the exact size of this surplus depends on several variables, especially the performance of the harvest in the Center-South region of Brazil. On the contrary, favorable weather conditions in important producers, such as China, Thailand and the European Union, reinforce initial optimism. The document also addresses the main factors that can influence the market, including production forecasts and impact on global trade. The sugar market in New York has faced volatility, with contract #11 varying between US¢18.00 and 20.00 per pound. The uncertainty about sugar supply, especially from October onwards, is related to the end of the harvest in the Center-South region of Brazil. Initially, there was an expectation of a consolidated surplus for 2024/25, but the lower quality of sugarcane and the lower-than-expected sugar mix, ...