Sugar Hits 4-week High

Sugar increased to 15.34 USd/Lbs, the highest since July 2026. Over the past 4 weeks, Sugar gained 1.24%, and in the last 12 months, it decreased 4.26%.

Sugar prices rose further to around 15.5 cents per pound, the highest since March, supported by higher oil prices, new uncertainties about weather conditions in India and projections of a global deficit for the 2026/27 crop. Despite improving rainfall in the world's second-largest producer, where the deficit narrowed from 42% at the end of June to 12% below average by August 3, traders remain focused on precipitation during the crucial June-to-September crop development period. India's Meteorological Department said on July 31 that monsoon rainfall in August and September is likely to remain below average. The outlook for the global balance sheet is also continuing to support prices. On August 3rd, Covrig Analytics shifted its 2026/27 outlook to a 300,000-ton deficit from the 100,000-ton surplus projected in June, echoing recent revisions by Green Pool and StoneX, which also raised their global deficit forecasts. El Niño remains an additional threat to global sugar supplies.

Sugar decreased to 14.37 USd/Lbs, the lowest since June 2026. Over the past 4 weeks, Sugar lost 4.12%, and in the last 12 months, it decreased 12.09%.