According to the latest data from Brazil's Ministry of Industry and Trade, Brazil's sugar exports totaled 1.97 million tonnes in May 2026, an 11.9% year-on-year decrease. Cumulative exports for the January–May period reached 9.20 million tonnes, down 3.5% year-on-year.

As the world's largest sugar exporter, Brazil's export decline—1.97 million tonnes in May (down 11.9%) and 9.20 million tonnes cumulatively from January to May (down 3.5%)—signals a marginal tightening of global sugar supplies, providing bullish support for white sugar spot prices. Regarding futures, the main white sugar contract (2609) on the Zhengzhou Commodity Exchange closed at 5,314 RMB/tonne on June 10, 2026, with open interest increasing by 12,935 lots compared to the previous trading day; expectations of supply contraction are likely to provide upward momentum to white sugar futures prices, representing a moderately bullish factor.

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