The July world sugar No. 11 in New York (SBN24) closed trading on Tuesday down by 0.31 (19.49; -1.60%), while the August London white sugar ICE No. 5 (SWQ24) also decreased by 8.40 (561.70; -1.47%).
Sugar prices significantly retreated on Tuesday after Monday's rise due to the strengthening of the dollar. The increase in sugar production in Brazil is having a negative impact on prices. According to Unica, sugar production volume in Brazil for the 2024/25 season increased by 11.8% compared to the previous year, reaching 7.837 million tons by May. The share of sugarcane harvest processed into sugar also increased in the 2024/25 season to 47.88% from last year's 46.68%.