Sugar prices averaged USD 19.19 cents per pound in December, down 6.1% from November. On 31 December, the commodity traded at USD 18.13 cents per pound, down 9.4% from 29 November.
Sugar prices fell for the second consecutive month in December and at the sharpest pace since May on an improving supply outlook. The Indian authorities recently stated that sugar exports may resume if there is a surplus after domestic ethanol blending requirements are met—sugar is widely used in biofuel production. A weaker Brazilian real also undercut prices, as it encouraged export selling by local producers.
This chart displays Sugar (US¢/lb) from 2023 to 2024.
Sugar ISA (prices in US¢/lb, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Sugar ISA | 19.87 | 24.71 | 24.61 | 24.52 | 22.10 | 19.55 | 19.36 | 20.19 |