Ugandan Sugar Prices Are Projected to Keep Increasing in 2023

Ugandan sugar prices are expected to keep increasing in 2023. In W2, sugar is retailing at an average price of USD 1360/MT, up from USD 1080/MT in October 2022. The price increase is due to reduced sugar cane supplies from growers and an increased number of processors, which has brought competition to already scarce raw materials. The number of growers has significantly decreased as many opted out of the sugar cane scheme due to the low prices that were offered in the 2020/21 season, where supplies were higher than demand, mainly as a result of the COVID–19 pandemic.