The Market in October
Global raw and white sugar prices collapsed during October, with prompt futures recording a high-to-low range of USD2.35 cents/lb, the widest spread of the year. Fundamental news was limited, and unlikely to have contributed to this collapse. The EU beet crop outlook improved, though imports are expected to remain largely unchanged from 2024/25 levels. In Brazil, favourable weather continued to support harvest progress and steady cane volumes. Meanwhile, in India, oil companies contracted up to 4 mln tonnes of sugar-equivalent ethanol, supporting expectations of a lower sugar production total in 2025/26.