Global sugar prices remained weak in early March, the week after the March NY raw sugar expiry, but rebounded with a string of higher closes mid-month. The London market outperformed its raw sugar counterpart, widening the white sugar premium. The final third of March saw prices surrender part of these gains to close slightly above the month’s mid-range. Fundamentally, weaker production totals were becoming apparent for some major producers while below-average rainfall continues to weaken the CS Brazil cane outlook. More analysts have confirmed a deficit world market outlook for 2024/25 in recent weeks, in line with the ISO’s February Quarterly Market Outlook projection of a 4.9 mln tonnes global deficit.