Global Sugar Prices Surge to 17-Month High
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Global raw sugar futures approach their highest level in 17 months amid concerns over harvest losses in Europe and tightening supply.
Global raw sugar futures have recorded their fourth consecutive weekly gain, driven by declining production expectations in Europe. The most active raw sugar contract neared its highest level in 17 months on Friday, climbing up to 2.6%. The total increase in raw sugar prices over the past four weeks has reached approximately 25%, influenced by market supply concerns.
Claudiu Covrig, Senior Analyst at Covrig Analytics, stated that sugar beet yields continue to decline, and the amount of sugar available to the market remains limited as producers reassess their strategies. According to data from the EU Sugar Market Observatory, the EU's total sugar production is projected to decrease by 19% in the 2026-2027 season.