Sugar Prices Hit 17-Year High Amid Hindistan and European Production Crunch

Sugar futures surged to a 17-year high amid concerns over declining production in Europe and Hindistan's unprecedented import decision. Prices rose by 25% over the past four weeks, reflecting Covrig Analytics' warning of a 19% drop in the EU's sugar output and Tereos' forecast of the lowest harvest in 38 years. Hindistan's move to import 1 million tons of duty-free sugar boosted prices, though factory output prices fell by 20%, raising doubts about the sustainability of imports. Green Pool's Eder Vieito noted the 'surprising' persistence of futures gains despite falling spot prices, signaling continued supply shortages in the global sugar market.