
2025 season Sugar Swap prices highlight the volatility experienced by growers over the past three-and-a-half years.
Simon Hood
Wilmar Manager Grower Marketing
The completion of 2025 season pricing has once again shown just how important it is for growers to have a clear pricing strategy in place when markets become volatile.
Over the past few years, growers have experienced some of the biggest price swings seen in recent seasons. Those using long-term pricing strategies had opportunities to lock in prices above $600/t at different points throughout the pricing window, while prices also spent periods trading much lower. It has been a reminder that sugar markets can move quickly and unpredictably, influenced by everything from global supply and demand to oil prices, currencies, and geopolitical events.
Different pricing approaches delivered different outcomes this season. Some growers benefited from taking pricing opportunities over a longer period, while shorter-term pricing options were more exposed to weaker market conditions later in the season. Importantly, it reinforces that no single pricing mechanism will outperform every year.
One of the clearest lessons from the 2025 season is the value of diversification. Spreading pricing decisions across different timeframes and mechanisms can help reduce risk and avoid relying too heavily on trying to pick the “top” of the market. Having a disciplined approach and staying engaged with pricing opportunities over time can make a significant difference to overall returns.

The strong performance of the Managed Pool Plus this season also highlighted the benefits of having a dedicated and actively managed pricing strategy working on behalf of growers through changing market conditions.
With this in mind, nominations are now open for the 2027 Season Managed Pool Plus. The pool was designed to help growers navigate volatile markets by spreading pricing decisions across a longer timeframe and combining disciplined risk management with active market oversight. Following the positive outcomes achieved in the 2025 season, interest in the 2027 pool is expected to be strong.
Growers wanting to better understand their pricing options, risk exposure and payment choices are encouraged to speak with the team about which approach may best suit their business goals and appetite for risk.