On the New York Sugar Exchange #11 (SBN24) today marked a decrease of -0.46 (19.06; -2.37%). The August London White Sugar ICE #5 (SWQ24) also showed a decline of -13.70 (548.50; -2.44%). This was reported by Barchart.
The reason for the decline in sugar prices is the growing optimism about the prolonged and abundant sugar production in Brazil - the world's largest producer. Last Friday, Unica rightly reported a 11.8% increase in sugar production in Brazil during the 2024/25 agricultural year from April to May, leading to production of 7.837 million tons. In addition, the share of sugarcane crops processed into sugar in Brazil in the current 2024/25 year is 47.88%, which is 1.2% more than last year.