NY sugar matched a 6-week low as the Brazilian real fell, encouraging export sales. Losses were limited by rising crude oil. The market weighed ample global supply against emerging El Niño risks in major producing regions.
Sugar fell sharply to 1-week lows as a 5% plunge in crude oil undercut ethanol prices, potentially boosting sugar supplies. The outlook for ample global supply remains bearish.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Raw Sugar | Brazil | SPOT | USD 500.00/MT | September 2026 |
| Raw Sugar | Brazil | SPOT | USD 466.00/MT | August 2026 |
Stay updated with the latest Raw Sugar prices, historical data, and tailored regional analysis
In Brazil, the average spot price of Raw Sugar rose from ~USD 466.00/MT in August to ~USD 500.00/MT in September, an increase of ~7.3%. Prices began climbing in early August as rains disrupted Brazil’s cane harvest and hot, dry weather threatened European beet crops. The rally gathered pace into early September, when raw sugar futures hit a 16-month high. Output in Brazil’s Centre-South fell 7.9% in the first half of August, while mills shifted more cane into ethanol because high energy prices linked to the US–Iran conflict made fuel more profitable than sugar. Supply risks also grew in Asia, as a strengthening El Niño threatened crops in India and Thailand, and dry weather was expected to sharply reduce Indonesia’s cane harvest. India’s domestic prices hit records on tight supply between crops, prompting import permits. Prices eased slightly in late September on profit-taking, but crop losses kept the market supported.
Analyst Insight
According to Procurement Resource, looking ahead, raw sugar is expected to remain well supported by deficit expectations and weather risks, although further profit-taking may trigger short-term pullbacks.
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During H1 2026, raw sugar prices remained generally under pressure, with short-lived recoveries failing to develop into a sustained rally. Brazil was the main bearish influence as strong cane crushing and rising Center-South sugar output increased export availability, while ethanol diversion prevented an even sharper decline. Brazilian raw sugar exports were estimated at 29.94 million MT in MY2025/26, maintaining substantial supply to global buyers. Asian markets also faced improving availability as Thailand benefited from a stronger cane crop and higher extraction, with sugar production expected to rise 10% year on year. India initially added potential export supply, but weak export economics encouraged mills to prioritize domestic sales before tighter export controls emerged late in H1. Indonesia remained a major demand centre, with raw sugar imports estimated at 3.8 million MT, largely sourced from Brazil, Thailand and Australia. These trade flows kept Asian buyers well supplied despite periodic Black Sea-style logistics and freight concerns elsewhere in commodities.
Raw sugar refers to sugar before the molasses is separated in the processing of sugar cane. Raw Sugar is known to be a sugar type which retains a small to large amount of molasses from the mother liquor, that is, the partially evaporated sugar cane juice. Thus, it contains all the mineral and acid impurities of the syrup. It is found in shades of brown, with flavours of caramel and smoke. Demerara sugar, Turbinado sugar, and Barbados sugar are some of the types of Raw Sugar.
Syrup, Food Preparation, Beverages, Processed Food
Natural Brown Sugar, Whole Cane Sugar
Südzucker AG, British Sugar plc, Mitr Phol Group, Santushti International, Wilmar International Ltd
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Cane Sugar is processed into Raw Sugar by a sequence of operations like harvesting, cutting, crushing, extraction of juice, clarification, evaporation, and crystallisation. In sugar mills, the juice is extracted from the stalks of sugarcane via the process of milling, wherein the cane tissues are disrupted by cutting, grinding or ‘fiberizing’ to extract nearly 95–97% of available sucrose. Then, the obtained juice is filtered, and the clarified juice is concentrated through evaporation into crystalline raw sugar.
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