The sugar market remains stable, with prices ranging from USD421.43 to USD429.86 per metric ton, influenced by uncertainties in India’s production and quality concerns. Despite market fluctuations, prices remain profitable for producers. In Brazil, domestic sales of crystal sugar are more lucrative than exports, although prices have dipped 1.95% over the past two weeks as some mills lowered their prices. After nine weeks of appreciation, the price of hydrated ethanol in São Paulo’s spot market has declined due to reduced demand from distributors and mills needing to sell. Since January, sugar prices have risen from USD375.57 per metric ton, driven by India’s initially optimistic harvest projections, which later revealed lower production potential. Additionally, China’s recent ban on Thai sugar syrup imports could impact Thailand’s sugar industry by an estimated USD60 million. Despite volatility, industry experts believe stable prices continue to encourage investment in production inputs.
