Sugar Futures at Over 1-Month High

2026-07-01 15:12 By Luisa Carvalho 1 min. read

Sugar futures in the US extended their upward trend to around 14.9 US cents, near the highest since May 19, amid mounting weather concerns.

An unusually strong El Niño event, a climate pattern associated with drier conditions in Asia-Pacific and increased rainfall in parts of the Americas, is posing risks to crops in major producing countries.

Thailand is experiencing excessive dry conditions and India is expected to see below-normal July rainfall after its driest June in 12 years.

Experts warned that weaker monsoon rainfall could reduce India’s annual sugar production by an estimated 3 million to 8 million tonnes.

The government has already extended its sugar export ban until September 30.

In Brazil, fundamentals remained supportive amid weaker output and harvest delays caused by recent rainfall.

Data from Unica showed that sugar production in Brazil’s Center-South region reached 6.84 million tons by the end of May in the 2026/27 harvest, down 2% from the same period a year earlier.



News Stream
Sugar Futures at Over 1-Month High
Sugar futures in the US extended their upward trend to around 14.9 US cents, near the highest since May 19, amid mounting weather concerns. An unusually strong El Niño event, a climate pattern associated with drier conditions in Asia-Pacific and increased rainfall in parts of the Americas, is posing risks to crops in major producing countries. Thailand is experiencing excessive dry conditions and India is expected to see below-normal July rainfall after its driest June in 12 years. Experts warned that weaker monsoon rainfall could reduce India’s annual sugar production by an estimated 3 million to 8 million tonnes. The government has already extended its sugar export ban until September 30. In Brazil, fundamentals remained supportive amid weaker output and harvest delays caused by recent rainfall. Data from Unica showed that sugar production in Brazil’s Center-South region reached 6.84 million tons by the end of May in the 2026/27 harvest, down 2% from the same period a year earlier.
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Sugar Futures Hit 1-Month High
Sugar futures in the US advanced toward 14.6 US cents, the highest level since May 22, underpinned by concerns about the global supply. Market participants weighed weaker Brazilian output and India’s rainfall deficits while also monitoring the effects of the reopening of the Strait of Hormuz. Data released by Unica showed sugar output in Brazil's key center-south region fell 25.6% year-on-year to 2.2 million metric tons in the second half of May, while the volume of sugarcane processed was 13% smaller at 41.5 million tons, affected by rainfall that interrupted harvesting in some regions. The data also indicated mills are allocating more cane to ethanol production due to better margins. In India, the world’s second-largest producer, the Meteorological Department reported monsoon rainfall was 42% below the historical average as of June 24. Despite this support, upside in sugar prices was limited by weaker oil prices, which reduce the appeal of ethanol.
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