Sugar — Market Analysis
QAA Intelligence provides market analysis, price trends, supply-demand insight and trading intelligence for the global sugar market, covering both raw and white sugar benchmarks.
Price Trend
Recent price history (last 14 days)
| Date | Price |
|---|---|
| 2026-10-03 23:30 GST | 19.91 US¢/lb |
| 2026-10-04 23:30 GST | 19.91 US¢/lb |
| 2026-10-05 23:00 GST | 20.78 US¢/lb |
| 2026-10-06 23:30 GST | 20.87 US¢/lb |
| 2026-10-07 23:30 GST | 20.85 US¢/lb |
| 2026-10-08 23:30 GST | 20.19 US¢/lb |
| 2026-10-09 23:30 GST | 20.27 US¢/lb |
| 2026-10-10 23:30 GST | 20.27 US¢/lb |
| 2026-10-11 23:30 GST | 20.27 US¢/lb |
| 2026-10-12 23:30 GST | 20.86 US¢/lb |
| 2026-10-13 23:30 GST | 21.10 US¢/lb |
| 2026-10-14 23:30 GST | 20.88 US¢/lb |
| 2026-10-15 23:30 GST | 21.14 US¢/lb |
| 2026-10-16 17:00 GST | 20.63 US¢/lb |
Sugar Market Overview
Sugar is traded globally as both a raw commodity (ICE Sugar No.11, New York) and a refined white commodity (ICE White Sugar, London). Prices are shaped by harvest results in the largest producing countries, ethanol demand competing for the same sugarcane feedstock, and currency movements in producer nations.
Global Supply & Demand
Global sugar supply depends heavily on Brazil's center-south harvest, India's monsoon-driven cane yield, and Thailand's crop cycle. Demand is relatively stable and food-driven, so price swings are usually supply-side events.
Major Producing Countries
Brazil is the world's largest sugar producer and exporter, followed by India and Thailand. The European Union and the United States are significant producers focused primarily on domestic markets.
Major Exporting Markets
Brazil, India and Thailand together account for the majority of globally traded sugar, supplying most of the volume that moves through international markets.
Major Importing Markets
Buyers in the Middle East, North Africa and Southeast Asia are among the largest sugar-importing markets QAA sources for.
Key Factors Affecting Sugar Prices
Brazilian and Indian harvest forecasts, the ethanol-sugar production mix in Brazil, monsoon timing in India, freight costs, and the Brazilian real's exchange rate against the US dollar are the factors that most consistently move sugar prices.
Sugar Market Outlook
QAA Intelligence tracks daily futures data, official government benchmarks and structured news monitoring to surface shifts in the sugar market as they happen.
Global Benchmarks
Other market references -- different source, currency, unit or basis from the headline benchmark; not directly comparable with it.
Latest News
Market Analysis & Outlook
ICE Sugar No. 11 futures are trading at 20.69 cents/lb, up 1.77% over the prior 24 hours, continuing a recent upward trend. This aligns with news of India restricting sugar exports, which has already pushed retail prices sharply higher in neighboring Nepal, signaling tightening regional supply. The FAO Food Price Index also noted higher sugar prices in September, consistent with broader upward pressure across sugar benchmarks, though the ISO daily price (19.58 cents/lb) remains below the futures level, suggesting some divergence between physical and paper markets. Elevated energy costs (Brent near $105/bbl) could support bullish sentiment via ethanol-diversion economics in producer countries like Brazil, though this link is not directly confirmed by the data provided. Overall, the move appears driven primarily by supply-side tightening news rather than a single isolated shock.
Outlook: Near-term bias remains upward as supply-tightening news from India persists, but volatility is likely given the gap between futures and physical benchmarks.
Data Coverage: HighWant the drivers, signals and outlook behind these numbers? QAA Commodity Advisory covers sugar every two weeks. Buying it? QAA supplies sugar from its own supplier network and manages the whole supply chain: see Sugar sourcing. For any other product, QAA Trade Services buys it from your supplier, or one we find for you, then ships and delivers it.
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