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Sugar No. 11 NY price chart, background, and sentiment |
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Widgets supplied in partnership with Acuity. Pricing and sentiment does not represent ADSS data or market view.
Sugar No. 11 NY is a raw sugar futures contract traded on the Intercontinental Exchange (ICE) in New York. As the world’s most widely traded sugar futures contract, it serves as the global benchmark for raw sugar trading.
Widgets supplied in partnership with Acuity. Pricing and sentiment does not represent ADSS data or market view.
Sugar No. 11 NY is a contract capturing the price of raw sugar from 29 countries, primarily in the Caribbean, and Central and South America. The largest producers are Brazil, India, and Thailand. This contract is for raw, centrifugal cane sugar based on 96-degree average polarisation, a technical measure of the purity of raw sugar.
Sugar prices are influenced by many factors including global supply and demand, weather conditions in major growing regions, and government policies affecting agriculture and trade. Brazil, as the world’s largest sugar producer and exporter, has a significant impact on global sugar prices, particularly through its domestic ethanol policies which affect the amount of sugarcane used for sugar versus ethanol production. Other factors affecting sugar prices include changes in consumption patterns, health concerns about sugar intake, and competition from alternative sweeteners. Macroeconomic factors such as currency exchange rates, particularly the Brazilian real and the US dollar, can also impact sugar prices. Additionally, energy prices can influence sugar prices through their effect on ethanol production and general agricultural input costs.
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