The export of sugar from Brazil soared in 2020 but the recent price goes up

The 2021’s wholesale price of crystal sugar in Pernambuco, Brazil has been on the upward trend. The price started off to be lower than the previous year. However, as the price continues to rise, it stood at 0.46 USD per kg in March Q4 which means 22.83% higher than the previous year in the same period. While the price of sugar is rising, the export values have risen almost doubled in 2020 with New Zealand increased the import by over 8800%.