ARTICLE 2

The lowest bid submitted was USD 533 per ton (C&F) for small‑grade sugar. Another bid offered USD 549 per ton for a further lot of small grade sugar. Bids range across various grades, including small/fine and medium grades.

March NY world sugar #11 (SBH26) on Tuesday closed down -0.18 (-1.07%), and December London ICE white sugar #5 (SWZ25) closed down -6.40 (-1.38%). Sugar prices gave up an early advance on Tuesday and turned lower, with NY sugar falling from a 1.75-month nearest-futures high. Sugar prices retreated after Covrig Analytics projected a +4.1 MMT global sugar surplus for the 2025/26 season.

Front‑month corn futures closed down by 1¼ to 2 cents in the session. The Cmdty View national average Cash Corn price fell by approximately 1¾ cents, landing at $4.04 ¾ per bushel. In the November/December “new crop” contracts, prices also slipped, consistent with broader contract declines.

Conversely, in India, authorities recently lifted restrictions that previously capped sugar use for ethanol production, which boosted sugar stocks and alleviated some pressure. If curbs persist without corrective measures, options like increasing imports, tapping buffer stocks, or policy intervention may be needed to prevent severe shortages.

Maharashtra, India — In a landmark step toward green energy, Maharashtra has inaugurated India’s first cooperative multi‑feed Compressed Biogas (CBG) plant, with plans to replicate the model in 15 more cooperative sugar mills across the country.

Markets may remain bearish until supply is rebalanced or a shock disrupts output. Producers in high‑cost regions could struggle to remain viable. Governments might be pressured to support margins via tariffs, subsidies, or export incentives. Some sugar mills may pivot more aggressively into biofuels or value‑added sugar products to manage risk. With forecasts pointing to a considerable global sugar surplus, the major takeaway is that prices are likely to stay weak—barring an unexpected supply shock or policy intervention. Recent related news

The government of Guyana has received a proposal from an Indian investor to establish a small sugar factory at Skeldon, one of its sugar estates. This proposal is part of wider efforts to revitalize the sugar sector, including plans to restart cane planting and increasing production.

Facing persistently low sugar prices, many sugarcane mills are increasingly turning to ethanol production as a strategic alternative to stabilize revenues and manage stock surpluses.

India exported about 7.75 lakh tonnes of sugar during the 2024–25 marketing year (October to September), according to the All India Sugar Trade Association (AISTA). The government had allowed sugar exports starting January 20, 2025, with a cap of 10 lakh tonnes for the season.