The main reason for the price decline was a change in the forecast by Brazilian consulting firm Datagro, which now predicts a global sugar surplus of 1.98 million tons in 2025/26.
Previously, a deficit of 5 million tons was predicted. This was reported by Reuters, citing sources in brokerage circles.
Since the beginning of this year, the price of sugar has fallen by about a quarter, returning to the levels seen at the end of 2020.
It should be noted that after reaching their lowest levels in December 2020, prices began to rise in 2021 due to frosts in Brazil, which damaged sugar cane plantations.