Key Takeaways: New York Sugar Week 2025

CSC-Sugar/Sugaright
Jun 3
2 min read

During a rainy week in NYC last month, the sugar trade gathered in record numbers to network and gather opinions on the current risks, challenges, and opportunities in the global market.

Some key takeaways….

The consensus was that tariffs would ultimately be less impactful on the sweetener market than anticipated earlier this year.
That said, because of market/tariff uncertainty, cash management/balance sheet discipline will be the norm. Most companies and bankers announced there would be minimal expansion, M&A, or Capex.
Consumer demand for no or low sugar beverages continues to grow, but the market is highly fragmented, and brands often have short life spans.
At the BMO Farm to Market Conference, both ADM and Ingredion addressed the potential flight out of HFCS due to MAHA. ADM seemed more concerned and said they may conduct a strategic review of the business. Ingredion thought it would be a longer-term issue and that they were working on blended solutions. They also thought that cheap corn would make HFCS irresistible for some finished products where low cost is critical.
Maple syrup is also perceived as a good alternative to HFCS. At the BMO conference, Lantic crossed the border to offer a bullish update on the maple syrup business thanks to MAHA-fueled reformulations.
Concern by beverage/ingredient folks on potential SNAP changes to eliminate CSD’s (5% of SNAP spent is on CSD’s) was downplayed. It is believed people will still buy their soda through other funds. The ‘s’ does stand for ‘supplemental’.
Generally, the price of commodities is down. Any short-term improvement in corn or soybeans will only happen if Brazil yields are lower and trade talks with China progress. Corn and soybean prices are actually at or below farm production costs.
Overall, natural non-GMO cane sugar remains the sweetener of choice due to strong consumer preference and its perception as being healthier than HFCS and artificial sweeteners.

But, of course, the only constant is change.

CSC Trading and Sugaright are keeping a close eye on any opportunities that arise from market uncertainty. The Sales Team is your best source of knowledge to help you optimize your buying decisions.