Sugar Prices

Sugar prices averaged USD 15.37 cents per pound in July, up 5.7% from June. On 31 July, the commodity traded at USD 15.18 cents per pound, up 1.4% from 30 June.

In July, sugar prices rose, but remained below their five-year average, curbed by ample supply from Brazil and soft demand. Renewed conflict in the Middle East and growing drought concerns in the U.S. and India still lifted prices above June’s level. Supply concerns were also exacerbated by expectations that the ongoing El Niño weather event will be one of the strongest in 75 years, which will likely hurt output in Brazil, India and Thailand—three of the top exporters.