Sugar price on the exchange | How to trade sugar

Current sugar price

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Uses, origins and interesting facts about sugar

Sugar is primarily an important food commodity. In Europe, it is most commonly produced from sugar beet, while sugar cane is the predominant source overseas. In both cases, it is obtained through refining. Historically, refined sugar was considered a luxury food. Experts now say that its consumption is growing excessively, which is one reason why sugar remains one of the most traded commodities.

Sugar is most commonly sold in loose form, either as small crystals or powder. Interestingly, the first sugar cube was created as early as 1843. Until then, sugar was sold in loaves, and the required amount had to be cut off each time.

Global sugar production

Global sugar production has been rising over the long term. Record production of approximately 189.3 million tonnes is expected in the 2025/26 season.

Brazil is the world’s largest producer, having produced a record of approximately 44.7 million tonnes thanks to an exceptional sugar cane harvest. India ranks second with approximately 35.3 million tonnes. The European Union as a whole and Thailand are also among the leading producers, while China and other countries remain significant producers as well.

Historical sugar price performance

The price of sugar is quoted in USD per pound, with one pound equal to approximately 0.453 kg, or in US cents per pound. Historical prices are available as far back as 1962.

To introduce the historical performance of sugar prices, it is worth noting that the commodity has experienced several major price bubbles in modern history. These are described in more detail below.

Let us first examine the price of sugar in the early 1960s. At the time, one pound of the commodity cost approximately USD 0.05. The price gradually doubled by 1964. It then fell again and largely stagnated between 1965 and 1968. At the beginning of the 1970s, however, sugar prices began an unprecedented rise. The all-time peak of USD 0.61 was reached in November 1974.

The decline in the second half of the 1970s was followed by another rapid rise, which peaked at USD 0.45 in November 1980. During the 1980s and 1990s, the price remained within a range of USD 0.03 to USD 0.14 and moved in cycles of approximately five years.

In subsequent years, the price generally remained between USD 0.10 and USD 0.20. In 2022, it traded at around USD 0.18 to USD 0.20 per pound. A sharp rise followed in 2023. In November 2023, the price climbed to a 12-year high of around USD 0.28 per pound, supported by a weak monsoon season in India and the El Niño weather pattern. Prices then declined during 2024 and 2025, before falling to multi-year lows of around USD 0.135 to USD 0.14 per pound at the beginning of 2026.

When this article was updated in July 2026, raw sugar on the ICE exchange, represented by the No. 11 contract, was trading at around 14.7 US cents per pound, or approximately USD 0.147. This is roughly the midpoint of this year’s trading range.

Future sugar price outlook

The main issue in recent months has been the global surplus. Record production, driven primarily by Brazil and India, is putting downward pressure on sugar prices. After the sharp rise in 2023 and 2024, the market has returned to lower levels.

Demand for ethanol in Brazil could provide a counterweight. Producers there must decide whether to process sugar cane into sugar or fuel. If ethanol becomes more profitable, the supply of sugar on the global market will fall, potentially supporting the price.

In our view, sugar is unlikely to rise significantly while the market remains oversupplied. However, much depends on the weather in key growing regions. A single weak monsoon season in India or a drought in Brazil could change the situation more quickly than expected.

Please note that this is not investment advice, but the personal opinion of the article’s author.

How to trade sugar

You can trade sugar by purchasing shares in companies that produce the commodity itself, manufacture confectionery or are otherwise involved in the industry. We will look at three companies traded on the New York Stock Exchange in the United States.

These companies include The Hershey Company (HSY), one of the oldest confectionery manufacturers in the United States, sugar and bioethanol producer Cosan SA (CSAN), and Adecoagro SA (AGRO), an agricultural company operating in South America.

Sugar is also traded on the CME commodity exchange, the Chicago Mercantile Exchange, although it is not accessible to ordinary retail investors. Retail investors can trade sugar through CFDs, or contracts for difference. In this case, the investor speculates on whether the price of sugar will rise or fall.

A CFD is an agreement between a trader and a broker. Today, a CFD trade can be placed with just a few clicks through an app or website. Under the contract, the broker agrees to pay the investor the difference between the CFD’s selling and purchase prices in relation to the price of the underlying commodity, which in this case is sugar.

What affects the price of sugar

Global demand for sugar is driven primarily by the food industry and, to a lesser extent, by the hospitality sector, including restaurant and fast-food chains.

The available quantity of sugar depends on the harvest of the crops from which it is produced. The volume of sugar produced and current market demand are therefore the two main variables determining its price.

Both the quantity and quality of sugar are affected primarily by the weather. Seasonal fluctuations also play a major role in the commodity’s market price. As with grain, sugar prices are usually lower shortly after the sugar cane and sugar beet harvests than, for example, during the winter, when producers have to draw on their stocks.