Sugar prices will likely come under pressure during the current season to September as the market is expected to witness about four million tonnes (mt) surplus, say analysts. They are currently ruling near three-month lows.
Dutch multinational and financial services firm Rabobank expects a tiny surplus in sugar during the 2024-25 season. It has projected a slightly bullish trend in sugar. According to the US Department of Agriculture (USDA), global sugar output is expected to increase by 1.5 per cent in the 2024-25 season, though demand is projected to rise by 1.2 per cent to 179.63 mt.
ING Think, the economic and financial analysis wing of another Dutch multinational financial services ING, said recent rains in the Center-South region (CS) of Brazil have eased concerns over the next crop.
