Sugar futures head for biggest weekly gain since May 2025
Sugar prices were headed for their biggest weekly gain since May 2025, amid tight supplies in India and volatility fueled by demand uncertainty, physical supplies and the prospect of Brazilian mills directing more cane to produce the sweetener.
On Friday, sugar futures in New York rose as much as 1.2% in mid-morning trading after falling as much as 2.1% to 17.16 cents a pound, after rising above 18 cents on Thursday.
India allows tax-free raw sugar imports
India is letting in up to 1 million tons of raw sugar through Oct. 31, 2026 (tax-free) to refill supplies before festival season hits.
Earlier, exports and a weaker harvest sent local prices soaring.
Meanwhile, Brazil is making more sugar instead of ethanol since it pays better right now.
Global buyers are also nervous thanks to ongoing geopolitical tensions and shipping headaches, adding even more uncertainty to the mix.