Sugar prices averaged USD 19.29 cents per pound in June, up 2.0% from May. On 28 June, the commodity traded at USD 20.40 cents per pound, up 11.0% from 31 May.
Sugar prices rallied in June as the spread of crop disease in India fueled supply concerns. Moreover, markets do not expect the country to remove its export ban in the near term. During the month, the International Sugar Organization raised its global sugar deficit estimate for 2023/24 by nearly 500% from its projection in February, further fanning prices. That said, rising production in Brazil capped the rise.
This chart displays Sugar (US¢/lb) from 2022 to 2024.
Sugar ISA (prices in US¢/lb, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Sugar ISA | 19.87 | 24.71 | 24.61 | 24.52 | 22.10 | 19.55 | - | - |