• Prices have rebounded by more than 5% recently.
  • This is due to the risk surrounding weather, the Indian monsoon is late and reservoirs are low, leading to buying from speculators.
  • On top of this, Indian exports for next season could be reduced if the subsidies seen this season are not continued.
  • However, the fundamental outlook is still negative with worldwide sugar stocks still very high (see Sugar Data/Stocks To Use for more information).
  • We currently see a surplus of sugar throughout the next 9 months and so it will be hard for prices to sustain their recent strength.

No.5 Price