卓创资讯: International sugar prices slightly rebound after weak bottoming during the Spring Festival

During the 2026 Spring Festival holiday, the international white sugar market showed a slight rebound due to the decline in Brazil’s sugar production and adjustments in U.S. tariff policies. ICE raw sugar futures closed at 14.00 cents per pound on February 23, up from 13.48 cents per pound on February 12, an increase of approximately 3.86%. After the Spring Festival, domestic sugar production resumed, but high inventories at sugar mills maintained a strong willingness to stabilize prices and sell. In March, Brazil fully halted crushing, leading to a temporary reduction in Southern Hemisphere supply, which is a short-term supply positive. However, new sugar from major Northern Hemisphere producers like India and Thailand continued to enter the market, and the medium- to long-term supply remains ample, potentially limiting the extent of price rebounds. Some domestic sugar mills may resume crushing in March, and import volumes may decrease month-on-month, weakening the impact on the domestic sugar market. However, as it is the post-holiday off-season for consumption, price upward potential is limited. Overall, Zhuochuang Information forecasts that in mid to early March, domestic white sugar spot prices may fluctuate slightly upward, with a possible decline in the latter part of the month. (Zhuochuang Information)