FX.co ★ Sugar Futures Ease from 5-Month Peak

US sugar futures hovered around 15.5 cents per pound, easing from the five‑month high of 15.7 cents reached on March 20, as they tracked shifts in international oil prices and evolving geopolitical risks. President Trump’s decision to delay potential strikes on Iranian power facilities by five days raised hopes for a de‑escalation of tensions in the Middle East, triggering a sharp decline in oil prices. Lower energy prices could prompt major cane producers Brazil and India to divert more output toward sugar rather than ethanol.

Additional downward pressure came from a pickup in Indian exports following a brief lull. Indian mills have signed contracts to ship 100,000 metric tons of sugar in just one week, supported by a weaker rupee and firmer global prices that have made overseas sales more attractive. According to industry officials, these exports from India, the world’s second‑largest sugar producer, will enable buyers in Asia and Africa to secure supplies at comparatively lower prices.