17 Hrs
Source:
Sky News
Sugar prices reach 19-month high
Global sugar prices have risen significantly, approaching their highest level in 19 months, due to weather-related crop disruptions in the world's largest producing countries, especially Brazil, which experienced heavy rains that delayed sugarcane harvests and reduced supplies. The futures prices for raw sugar increased by 2.3% to 20.72 cents per pound. Weak outlooks for sugar cultivation in Europe and the United States, due to severe droughts, are also fueling these price increases. This situation continues to put upward pressure on the prices of sweets and sugar-dependent foods in global markets, with expectations that these disruptions will persist and impact costs, ultimately affecting the end consumer.
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