Commodities
Home›Commodities›Energy Transition›Sugar futures set for biggest weekly gain since May 20…
Sugar futures set for biggest weekly gain since May 2025
New York raw sugar climbed as much as 1.2% intraday after India agreed to allow tax free imports of up to 1 million tons through Oct. 31.
Sugar futures in New York were headed for their biggest weekly gain since May 2025, driven by tight supplies in India and choppy trading tied to uncertainty over demand, physical availability, and supply routes from Brazil, according to LiveMint Markets citing Bloomberg.
In mid-morning trading, the most-active raw sugar contract rose as much as 1.2% after earlier slipping as much as 2.1% to 17.16 cents a pound. The contract had pushed above 18 cents on Thursday, and was still poised for about a 6% weekly increase.
The moves were influenced by two competing forces. On the supply side, Hedgepoint Global’s Americas sugar desk head Carlos Murilo de Mello said Brazilian mills are expected to direct more cane to sugar rather than ethanol in the Center-South region. On the demand side, he said buyers have been holding back, citing demand weakness and logistics disruptions including Gulf refinery buying constraints linked to problems in the Strait of Hormuz.
The latest catalyst comes from India, the world’s second-biggest sugar producer, which said it would allow raw sugar imports of up to 1 million tons through Oct. 31 on a tax free basis. The market had been split on whether the import plan would arrive, after India allowed exports earlier this year despite a smaller-than-expected crop that left inventories low and domestic prices at record highs, LiveMint Markets reported.
Latest closeSugar $16.60 ▼1.3%