Sugar price hangs on output in India

Global supplies will outpace demand by about 1 to 3 mt in 2017-18

Sugar traders are bracing for a wild ride. While most analysts forecast a return to surplus in the 2017-18 season that starts in October, many are considering “best case scenarios,” Michael Gelchie, a trading director at Sucres et Denrees SA, or Sucden, said at the Dubai Sugar Conference on Sunday. With global stockpiles forecast to fall to their lowest since 2011-12, there’s little room for weather disruptions that could hurt crops.

Sugar futures in New York jumped 28 per cent last year, the most since 2009 and the best performing agricultural material in the Bloomberg Commodity Index. Prices climbed as