ICE Sugar No.11 futures fall as Brazil and India influence trade

ICE Sugar No.11 futures closed lower on 14 October 2026. The curve is backwardated from March 2027 through late 2028, with the front above 20 US¢/lb and deferred contracts in the high-17s.

Brazil’s wet harvest and India’s export ban are affecting global sugar trade. India is importing 1 million tonnes of raw sugar duty-free to stabilize domestic prices, while Brazil faces harvest delays due to heavy rains.