Global Sugar Futures Fall To Five-Week Low On High Indian Production

Raw sugar futures in New York fell as much as 3.7% to their lowest intraday price since September 23 amid robust Indian output data.

India produced 845,000 tons of sugar from the start of the season through October, exceeding eight times the output from the same period last year.

The market selloff was further exacerbated by speculative funds trimming their net-long positions to a four-week low.