USDA Forecasts Sugar Surplus in India, Leading to Price Decline
Sugar prices declined after the USDA projected a 2.5 MMT surplus in India's sugar production for 2026/27, marking the first surplus in two years. This forecast, combined with increased ethanol production in Brazil, has pressured global sugar markets. Prices initially rose due to higher gasoline prices, which typically support sugar demand through ethanol production.
Topics: Brazil_sugar_production commodity_markets India_sugar_surplus sugar_prices USDA_report