Sugar Market Update – International & Domestic Trends

10-Apr-2025 08:54 AM

Sugar Market Update – International & Domestic Trends
★ A decline was seen in international sugar markets, and Indian markets remained quiet as well.
★ On March 12, ISMA (Indian Sugar Mills Association) revised its 2024-25 season sugar production estimate to 26.4 million tons, down from 27.27 million tons in January.
★ In Brazil’s central-southern region, sugar production declined by 5.3%, reaching 40 million tons as of March 15.
★ A major company also projected a drop in Brazil’s sugar output.
★ According to the ISO (International Sugar Organization) report dated March 6, the global sugar carryover stock for 2024-25 may be just 4.8 million tons, compared to a 13 million ton surplus in 2023-24.
★ ISO lowered its global sugar production estimate for 2024-25 to 177.5 million tons in March, down from 179.1 million tons in November.
★ In Thailand, sugar production surged by 18% to 10.35 million tons, rebounding from 8.77 million tons in 2023-24, which had suffered due to drought.
★ On January 20, the Indian government allowed the export of 1 million tons of sugar, but only 287,000 tons were exported due to weak global markets.
★ The expected impact of the export opening did not materialize, but low carryover stock may support sugar prices in the future.