World Sugar Market
First comprehensive assessment of the 2025/26 global balance
Latest 2024/25 revision reveals a marginal reduction in the global deficit
Global consumption forecast to rise
Updates show consumption hit a record
The global stock total is expected to decline
Stock-to-use ratio lower, a 9-year low, while the alternative ISO ending-stock calculation points to a multi-decade low.
Market Price Update
Average monthly ISA prices in August (up to the 22nd) remains near 51-month low, established in July
The ISO price view is neutral-to-bullish over the next three months
Brent crude averaged USD70.95/barrel in July, down from USD79.21/barrel in January amid OPEC+ supply increases; Corn prices fell to one-year low at USD4.02/bushel in July on favourable US weather, bumper Brazilian harvest, and trade tensions; Coffee prices surged to USD3.70/lb in August after falling to nine-month low of USD2.92/lb in July
US Dollar weakened against other currencies and the dollar index basket
Most major sugar markets experienced price decreases in May-July as USD-denominated global raw sugar prices declined 6%
Brazilian crystal sugar prices fell to three-year lows
World Fuel Ethanol Market
World ethanol production forecast
Global consumption projection
US production expected to reach record
Brazilian ethanol production forecast
India's production projected to surge
Co Product Markets
Beet molasses prices to move higher on reduction in EU production
Cane molasses market to remain thinly supplied
India’s export tax and voluntary EU sanctions against Russian product still limit trade activity
EU to import more in second-half 2025
US importing less in 2025 so far as domestic livestock feed ingredients more competitive
Key importers in Asia show lower arrivals in the first half of 2025
Brazil: Calendar year bagasse electricity
India: Bagasse power output
UN Global Plastics Treaty negotiations conclude without agreement after sixth round, delaying regulatory certainty
Thailand advancing bio-hub strategy with NatureWorks
Alternative Sweeteners
North America holds largest share of global HFCS market while Asia is fastest growing region, led by China
HFCS-55 dominant, but HFCS-42 use expanding, as is HFCS-90
Average monthly US corn costs higher so far in 2025
US HFCS exports to Mexico down on lower use
Coca Cola will not reformulate its lead product to use sugar instead of HFCS in the US
New research targets potential for artificial sweeteners to cause early puberty
Mogroside production, using watermelons, advances
Ready-to-drink coffee manufacturers turn to natural alternative sweeteners
UK Food Standards Agency warns against glycerol consumption by children
WTO Update
Mr. Diego Alfieri of Brazil is new Chair for Committee on Agriculture
Persistent divergences in views on how to achieve concrete and meaningful MC14 outcomes for agriculture
RTAs and Sugar Provisions
Australia and the EU revive FTA talks
Canada-Indonesia FTA finalised
EFTA clinches trade deal with MERCOSUR
Ethiopia publishes AfCFTA tariff concessions
India-US FTA talks collapse
Revised FTA between EU and Ukraine
India and the UK signed a Comprehensive Economic and Trade Agreement (CETA)
US set August 1st deadline for new trade agreements to avoid steep, country-specific tariffs
New agreements reached with UK, China, EU, Japan and South Korea amongst others
US universal tariff remains at 10% for countries with which the US has a trade surplus and a 15% tariff floor for countries with which the US has a trade deficit