Global sugar markets are expected to remain in surplus in the 2026/27 marketing year, according to revised forecasts presented by leading analysts at the Dubai Sugar Conference held in February 2026, UkrAGroConsult reported.
Analysts from Czarnikow said the global sugar surplus in the 2026/27 season is projected at 3.4 million tonnes, sharply lower than the estimated surplus of 8.3 million tonnes in the ongoing 2025/26 season.
Meanwhile, analysts at Green Pool forecast a much smaller surplus of about 156,000 tonnes for the 2026/27 season, compared with 2.74 million tonnes in 2025/26.
Analysts attributed the continued surplus outlook mainly to favourable crop expectations in major producing countries, including Brazil, India and Thailand.
The surplus projections have weighed on global sugar prices, which fell to their lowest levels in about five and a half years this week. Compared with a year ago, raw sugar prices are down 29%, while bulk sugar prices have declined by 26%.
Market participants said the continued expectation of a global sugar surplus in the upcoming season is likely to keep pressure on prices in the near term.
