March NY world sugar #11 (SBH24) on Wednesday closed up +0.71 (+2.99%), and March London ICE white sugar #5 (SWH24) closed up +15.50 (+2.31%). Sugar prices on Wednesday extended Tuesday’s gains and posted 7-week highs. Sugar prices have carryover support from Tuesday when the Indian Sugar Mills Association (ISMA) reported India’s 2023/24 sugar output during the Oct -Jan 15 period fell -5.3% y/y to 14.95 MMT. Sugar prices are also seeing support from signs that India’s ban on sugar exports will be maintained and global supplies will be kept tight after India announced a 50% export tax on molass…