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Concern Over Brazil's Sugar Supplies Lifts Prices

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JPMorgan Chase revised its Brazil sugar outlook for 2025/26 to a deficit of -900,000 MT .

JPMorgan Chase cited disappointing yields and a low sucrose content in Brazil 's sugar harvest.

The outlook for higher sugar production in India , the world's second -largest producer, is bearish for prices.

A positive factor for sugar prices is expected increase in sugar imports from Pakistan .

The USDA , in its bi-annual report released May 22 , projected that global 2025/26 sugar production would climb +4.7% y/y to a record 189.318 MMT .

The USDA also forecasted that global sugar ending stocks would climb -7.5% y-y to 41.188 MMT and that global human sugar consumption would increase +1.4% .