Sugar Prices

Sugar prices averaged USD 14.54 cents per pound in June, down 5.4% from May. On 30 June, the commodity traded at USD 14.97 cents per pound, up 2.0% from 29 May.

In June, sugar prices came in below their five-year average, partly curbed by lower energy prices and the reopening of the Hormuz Strait, which are set to reduce biofuel demand and input costs. That said, the price decline was limited by India’s recent export ban of the commodity and global supply concerns fueled by the arrival of El Niño weather conditions, which could disrupt output; key producer India is already facing below-normal monsoon levels, as of the end of June.