Sugar Market Under Pressure โ ICE No.5 Futures Slide Further as Sentiment Sours
๐ Sugar Market Under Pressure โ ICE No.5 Futures Slide Further as Sentiment Sours
On 29 April 2025, ICE Sugar No.5 continued its downward slide. The August 2025 contract lost 1.71%, closing at USD 496.80/t (EUR 462.02/t). Forward prices dropped across all maturities, reflecting continued market fatigue, slow physical demand, and aggressive fund selling. Meanwhile, despite global weakness, EU FCA prices remain firm, at around EUR 0.56โ0.59/kg.๐ ICE Sugar No.5 โ Closing Summary (29.04.2025)
(Exchange rate: 1 USD = 0.93 EUR)๐งญ Market Commentary
๐ Risk-Off Mood Continuesโ Another broad-based selloff across the forward curve.โ No bullish catalysts as macroeconomic concerns weigh on soft commodities.โ Brazilโs harvest is beginning to flow into global supply chains.๐ช๐บ EU Prices Still Unmovedโ Spot offers remain at EUR 0.56โ0.59/kg FCA, detached from international corrections.โ Tariff walls and low import quotas maintain EU insulation.
๐ Technical Noteโ August 2025 contract approaches key support near USD 495/t. A break below could trigger further losses.
๐ Current 1โฏkg Retail Sugar Prices (as of 29.04.2025)
Last verified within 3 days๐ฎ 3-Day Price Forecast (30 April โ 2 May 2025)
๐ Outlook:Downside momentum remains dominant. Minor rebounds are possible, but sentiment stays weak unless macro or weather shocks emerge.๐ Global Sugar Balance Sheet (2021โ2025f)
๐งญ Conclusion & Strategy
โ Market dynamics still favour buyers โ supply outweighs demand.โ EU spot prices remain excessively high compared to global levels.โ ๏ธ Technical levels approaching breaking points โ volatility may increase.๐ Recommendations:
- ๐ Buyers: Be patient, global pressure may unlock better deals.
- ๐ฆ Sellers: Hedge aggressively; avoid speculative long exposure.
- ๐ Traders: Watch the USD 495/t line. A breakdown could accelerate losses.
