Sugar’s biggest jump since 2008 is a fresh threat to food prices
Sugar prices are surging as fires and drought slam fields in top grower Brazil, threatening higher costs for sweets and desserts.
While shifts in farmgate prices take time to feed through to the grocery store, sugar’s latest surge puts the sweetener on track for a sixth straight annual gain, keeping pressure on foodmakers. “There is a prospect of a tightening in global sugar availability for export in the first quarter of 2025,” Duff said.
The most-active raw sugar future rose as much as 3.8% in New York on Friday. It’s currently on track for a gain of almost 16% this week, which would be the biggest weekly advance since June 2008.
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