Sugar Exports Drop 35% in January, Pressuring International Prices

Brazil’s sugar exports fell 35% in January compared to the same period in 2024. According to a survey released by Reuters, the country—the world’s largest producer and exporter of the commodity—shipped 2.06 million tons in the first month of the year. Analysts point to limited stocks during the off-season in the Center-South region as the main factor behind the decline.

On Friday (7th), sugar prices dropped again in domestic and international markets. The March 2025 raw sugar contract traded on ICE Futures New York was quoted at 19.36 cents per pound, down 21 points from the previous day’s price. Despite the decline, the weekly balance remained stable.

The May 2025 contract on the same exchange also closed lower on Friday, falling 20 points to 17.86 cents per pound. Other maturities recorded declines between 2 and 19 points in a low-liquidity session, impacted by the absence of market participants attending the annual industry conference held in Dubai this week.

The chart below builds on DataLiner data, providing an overview of Brazilian sugar exports from January 2021 to December 2024.

Sugar Exports | Jan 2021 – Dec 2024 | TEUs

Source: DataLiner (click here to request a demo)

European Market

In London, on ICE Futures Europe, white sugar prices declined across all contracts. The March 2025 contract was traded at $517.70 per ton, a $4.70 drop compared to the previous day. Meanwhile, the May 2025 contract fell $5.60, closing at $502.50 per ton. Other maturities dropped between $1.80 and $5.30.

Domestic Market

In Brazil, crystal sugar also continued to decline. On Friday, the Cepea/Esalq Indicator (USP) reported that the product was sold at R$146.71 per 50-kg sack, down from R$149.23 the previous day, reflecting a 1.69% depreciation over the period.

Source: Ponta Porã Informa

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