Sugar Prices

Sugar prices averaged USD 15.36 cents per pound in May, up 7.1% from April. On 29 May, the commodity traded at USD 14.54 cents per pound, down 1.4% from 30 April.

In May, sugar prices rebounded strongly from their April decline, partly due to India renewing its export ban of the commodity until at least October. The move aims to rein in domestic prices following recent projections that consumption will outweigh production for the second year running. Global supply concerns have been exacerbated by the expected arrival of El Niño weather conditions in H2, which could disrupt output. Still, ample production in Brazil kept a lid on May’s price increase.