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Sugar prices extend weeklong rally as global supply risks mount

AI Market Summary
Sugar extended a weeklong rally to multi-month highs as the market reprices tighter forward balances. Supply risks are mounting: EU/UK output is projected to fall to an 11-year low, Brazil Center-South June production dropped 26.3% y/y, and India's monsoon outlook was downgraded with rainfall still below normal. Multiple forecasters now model 2026/27 deficits while global consumption trends toward a record.
Impact level
● Medium
Affected assets
NCCOSUGAR2USD/USDT+1.45%
AI Insight · NCCOSUGAR2USD/USDTAI Insight
▲ Bullish
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Sugar prices extended a weeklong rally as concerns over global supply tightened sentiment. In Brazil’s Center-South, June sugar output fell 26.3% y/y to 3.903 MMT, while India’s weather office cut its monsoon rainfall forecast to 90% of the long-term average and reported rainfall was 12% below normal as of August 10. Global sugar consumption in 2026/27 is projected to rise to a record 179.991 MMT. Supply constraints alongside expectations for stronger demand have underpinned prices.
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