Sugar Prices Decline Again on ICE Despite 2026/27 Deficit Forecast

Sugar futures traded on the ICE exchange fell for a third consecutive session on Monday. Raw sugar for July delivery dropped 0.07 cents, or 0.5%, settling at 14.73 cents per pound. The International Sugar Organization (ISO) anticipates that the global sugar market will face a deficit of 262,000 tons in the 2026/27 season, marking its initial forecast for the upcoming period. However, the intergovernmental body simultaneously revised its estimate for the global sugar surplus in the 2025/26 season (October to September) upwards, from 1.22 million tons to 2.24 million tons. Analysts commented, "The price outlook for the next three months remains neutral, given that the 2025/26 surplus is modest. Meanwhile, inventory building, driven by concerns over reduced fertilizer usage and increased price hedging, could provide support for prices." Concurrently, the most actively traded white sugar contract saw a 0.5% decline, reaching $436.50 per ton.