Sugar Prices Rise on ICE, Surpassing 15 Cents Per Pound Mark Again

Sugar futures on the ICE exchange in New York closed higher on Tuesday. The most actively traded July raw sugar contract saw a 0.67% increase, settling at 15.01 cents per pound, successfully breaching the significant 15-cent psychological barrier once more. This price surge was primarily underpinned by market expectations of a potential tightening in global sugar supply. According to the latest forecasts from market analytics firm StoneX, the global sugar market is projected to face a supply deficit of 550,000 tonnes in the 2026/27 crop year, following an estimated surplus of 2.3 million tonnes in the 2025/26 season. This shift in projections significantly reinforces the market's perception of a tighter supply-demand balance in the medium term. Such changes in the supply and demand landscape are typically viewed as crucial factors supporting prices in the futures market, indicating that sugar prices are likely to remain firm.