World sugar prices hit a 5-year low.

Sugar prices fell nearly 2%, to $305 per ton; white sugar futures for the same period lost as much as 2.74% to $387 per ton, marking the lowest level in over five years.

Báo Công thương•12/02/2026

Commodity markets rallied on February 11th as buying pressure dominated, pushing the MXV-Index up 1.3% to 2,541 points. Notably, silver prices surged due to concerns about supply shortages despite pressure from exchange rates, while sugar prices fell to a five-year low due to abundant global supply.

Sugar prices fell by nearly 2%.

In contrast to the vibrant metal sector, the industrial raw materials market witnessed a sharp decline in sugar prices during the last trading session. Specifically, the March contract for sugar futures fell by nearly 2%, to $305 per ton; the white sugar contract for the same period even lost 2.74%, dropping to $387 per ton, marking its lowest level in over five years.

According to MXV, abundant supply from India continues to be the main reason for downward pressure on the global sugar market. In Maharashtra, India's largest sugar cane capital, data from the Sugar Board shows that as of February 5th, the state's production had reached 8.2 million tons. This is a record figure, as production in just one half of the season has already surpassed the total of 8.1 million tons from the entire previous season.

Besides India, the supply picture in Brazil also remains stable. The latest report from the Brazilian Sugar Industry Association (UNICA) shows that, cumulatively for the 2025-2026 crop year (up to mid-January), sugar production in the South-Central region of Brazil reached 40.23 million tons, a 0.9% increase year-on-year. Notably, mills are prioritizing sugar production over ethanol, with the proportion of sugarcane crushed for sugar increasing to 50.78%, significantly higher than the 48.15% of the previous crop year.

On the demand side, Indonesia – the world's largest sugar importer – is showing relatively less optimistic signs. According to data from the Indonesian Statistics Agency (BPS), sugar imports in December 2025 plummeted by more than 57%, to just under 218,000 tons. For the entire year 2025, the country's total imports reached 3.92 million tons, a 26% decrease compared to the previous year.

In the domestic market, trading in the final days of the year was sluggish despite abundant supply from factories. Asking prices from traders remained stable, but purchasing power was weak and market liquidity was low. Specifically, in the Mekong Delta region, 333 sugar (medium grain) was offered at around 16,600 - 16,650 VND/kg; Thai sugar (fine grain) delivered to customers remained unchanged, fluctuating around 15,600 - 15,700 VND/kg. In Ho Chi Minh City, Song Con sugar was offered by traders at around 16,600 VND/kg.

Silver prices reverse course, soaring despite macroeconomic pressures.

Closing yesterday's trading session, metal prices were mostly in the green as buying pressure dominated 9 out of 10 commodities. Silver, in particular, took center stage with an impressive comeback. Despite unfavorable macroeconomic conditions, the March silver futures contract on the COMEX exchange surged 4.4%, reaching $83.92 per ounce.

According to the Vietnam Commodity Exchange (MXV), this upward trend is particularly noteworthy because it is occurring against the backdrop of macroeconomic factors putting pressure on precious metals. Specifically, data from the US Bureau of Labor Statistics (BLS) showed that the US labor market in January performed better than expected with 130,000 new jobs, far exceeding analysts' forecast of 70,000. This information boosted the Dollar Index (DXY) to 96.9 points. Normally, a stronger US dollar is detrimental to precious metals priced in this currency.

However, yesterday's performance of silver suggests that pressure from interest rates and the US dollar has been overshadowed by growing concerns about physical supply shortages.

The latest report from The Silver Institute has bolstered investor sentiment, forecasting a global silver market deficit for the sixth consecutive year in 2026. Accordingly, while total supply is expected to increase only slightly by about 1.5%, to nearly 32,660 tons, demand in the physical investment segment is projected to surge by 20%, reaching approximately 7,000 tons. This significant disparity between supply and demand has provided strong support, preventing silver prices from weakening in line with the US dollar's recovery and causing them to rebound sharply during the trading session.

Domestically, in line with the global upward trend, silver prices also showed positive developments this morning (February 12th), increasing by approximately 4% compared to the previous session. Surveys at major trading centers in Hanoi and Ho Chi Minh City show that 99.9% pure silver is trading around 2,746,000 - 2,781,000 VND/ounce (buy-sell), while silver bars for investment and hoarding remain in the range of 3,184,000 - 3,282,000 VND/ounce.

Price list for some other types of goods