Global sugar prices plummet as Brazil floods market with surplus supply. Raw sugar fell to $313 per metric tonne in February 2026 from $445 a year earlier, while white sugar dropped to $408 from $532. The sharp decline reflects global oversupply despite production rising only five percent to 189.3 million metric tonnes. India's sugar sector remains insulated from international volatility, with domestic production projected at 32.41 million metric tonnes and comfortable demand-supply balance. Closing stocks are expected to reach 5.6 million metric tonnes, equivalent to two months of consumption, providing a buffer against price fluctuations. Operating margins for integrated mills are forecast to remain stable at ten to ten point five percent.
