According to a report by SunSirs on November 18th, the International Sugar Organization (ISO) predicts a global sugar surplus of 1.63 million tons in the 2025/26 season, driven by increased production.
The ISO forecasts a global sugar surplus of 1.63 million tons in the 2025/26 season, primarily due to increased production. This will lead to oversupply, putting significant downward pressure on spot sugar prices. Combined with the latest futures data (the main contract 2601 settled at 5,465 RMB/ton, down 25 yuan, with open interest decreasing by 11,059 lots), the market already shows a bearish trend, and this forecast may reinforce the decline in futures prices, considered a major negative event.
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