Asia
In Asia, refined sugar prices increased from ~5.27 RMB/kg (Spot FD) in January to ~5.43 RMB/kg (Spot FD) in March. This quarter average prices were lower by ~1.88% compared with Q4’25, while prices increased by ~2.93% between January and March. The market initially weakened due to sufficient regional supply and improved global availability; however, prices recovered later as higher freight and energy costs increased import expenses across Asian markets. India approved additional sugar export volumes during the quarter, while mills reportedly booked nearly 100,000 metric tons of export deals within a week during March amid improving overseas demand and rising global prices. Strait of Hormuz disruptions also increased freight and bunker fuel costs, tightening trade flows across regional sugar supply chains.
Europe
European refined sugar prices increased from ~0.74 EUR/kg (Spot FD) in January to ~0.77 EUR/kg (Spot FD) in March. Q1’26 average prices were lower by ~0.31% compared with Q4’25, while prices increased by ~3.81% from January to March. The market remained supported by elevated freight costs and logistical disruptions linked to the Iran conflict, which increased landed costs for imported sugar cargoes and agricultural commodities. However, comfortable regional inventories and weak industrial sweetener demand prevented sharper price increases across the quarter. Demand from confectionery, beverages, and processed food sectors remained stable-to-moderate.
South America
In Brazil, refined sugar prices declined from ~3.24 BRL/kg (Spot FD) in January to ~3.12 BRL/kg (Spot FD) in March. This quarter average prices were lower by ~11.21% compared with the previous quarter, while prices decreased by ~3.80% between January and March. The Brazilian market remained pressured by strong export availability and sufficient sugarcane supply during the quarter. However, rising crude oil prices linked to the Iran war increased expectations of greater ethanol diversion, limiting sharper declines in sugar prices. Export competitiveness remained strong despite elevated marine freight and insurance costs caused by Strait of Hormuz shipping disruptions.
Analyst Insight
According to Procurement Resource, refined sugar prices are expected to remain slightly firm as elevated freight costs, energy volatility, and ethanol-linked supply adjustments continue influencing global trade flows and procurement sentiment.
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| Product | Category | Region | Price | Last Updated Month |
| Refined Sugar | Food and Beverages | China | 810 USD/MT | October 2025 |
| Refined Sugar | Food and Beverages | China | 761 USD/MT | December 2025 |
| Refined Sugar | Food and Beverages | Europe | 905 USD/MT | October 2025 |
| Refined Sugar | Food and Beverages | Europe | 873 USD/MT | December 2025 |
| Refined Sugar | Food and Beverages | Brazil | 664 USD/MT | October 2025 |
| Refined Sugar | Food and Beverages | Brazil | 633 USD/MT | December 2025 |
Stay updated with the latest Refined Sugar prices, historical data, and tailored regional analysis
Asia
The market for Refined Sugar in Asia, particularly China, experienced gradual downward pressure throughout the fourth quarter. The prices were about 810 USD/MT (Spot FD) in October and around 761 USD/MT in December. The region benefited from strong production recovery in India following favourable monsoon conditions, which resulted in substantially higher output compared to the previous season. This increased availability contributed to bearish sentiment across regional markets. Domestic consumption remained relatively stable, though demand growth moderated amid shifting consumer preferences. Import activity adjusted to reflect improved domestic supply conditions. The quarter concluded with prices significantly lower than opening levels, reflecting persistent oversupply conditions and weakened market fundamentals.
Europe
European Refined Sugar markets mirrored the downward trajectory observed globally, with prices declining steadily throughout the fourth quarter. The prices were about 905 USD/MT (Spot FD) in October and around 873 USD/MT in December. The region faced pressure from stronger domestic output following increased beet plantings in the previous season. Manufacturers increasingly shifted toward sugar alternatives to achieve health claims, reducing industrial demand. Import flows from non-EU sources, which are controlled through safeguard measures, contributed to well-supplied conditions. EU sugar stocks remained comfortable, limiting upside potential. The quarter saw prices retreat progressively as domestic production remained adequate and export opportunities diminished due to competitive global pricing. Market fundamentals stayed soft with limited support from either supply constraints or demand growth.
South America
South American Refined Sugar markets, led by Brazil, experienced consistent downward pressure throughout the fourth quarter. The prices were about 664 USD/MT (Spot FD) in October and around 633 USD/MT in December. Prices declined progressively as strong harvest volumes created substantial oversupply conditions. Brazil's sugarcane crushing proceeded at elevated rates, with production exceeding expectations and reaching near-record levels. Mills favoured sugar production over ethanol as international sweetener prices weakened. The quarter witnessed accelerated price declines during the latter portion as harvest completion approached and inventory levels accumulated. An abundant supply weighed heavily on both domestic and export pricing structures. Export activity remained strong, but competitive pressures intensified. By quarter end, prices had fallen substantially, reflecting overwhelming production volumes and persistent weakness in demand fundamentals.
Refined Sugar, that we consume, is basically produced from crops like sugar cane or sugar beets. These sugar canes and beet undergo a defecation process to derive the sugar. It is generally found as sucrose, that is the combination of glucose and fructose.
Sweetener, Taste Enhancer, Candies, Chocolates, Maple Syrups, Donuts, Dairy Products, Ice Creams
Cargill, Incorporated, Associated British Foods plc (ABF) (AB Sugar), Domino Foods, Inc. (C&H®? Sugar brand), Tate & Lyle Sugars, Sidul Açúcares, Triveni Engineering & Industries 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.
Refining of sugar takes place in 2 steps, that is, Affination and Screening. While during affination raw sugar is mixed with heavy syrup and centrifuged to wash away the outer coating of the raw sugar crystals, in screening, raw sugar is dissolved to make a syrup (about 70% by weight solids), that is also clarified by adding phosphoric acid and calcium hydroxide.
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