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Sugar futures fall after India’s import duty removal
The price of crude sugar futures on the American ICE exchange fell by 0.8% to reach 17.38 cents per pound, after reaching its highest level in over a year at 18.26 cents. This decline comes after India announced it would permit the import of one million tons of raw sugar duty-free until October 31. The market is currently facing supply-related challenges, including the impact of drought on European crops, decreased production in Brazil due to heavy rains, and concerns over how the El Niño phenomenon might cause drought conditions in Asia. Meanwhile, the price of white sugar futures decreased by 0.5% to $537.70 per ton, after reaching a peak of $566.80 on Thursday, which was the highest since March 2025.
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