Spain: High sugar prices herald more risks in the food supply

Published 2023년 4월 16일

Tridge summary

Record high prices for sugar in the international and Spanish markets are expected to continue due to a global supply shortage. The International Sugar Organization and the Food and Agriculture Organization of the United Nations have reported increases in sugar prices, with the latter experiencing its highest level since 2016. This situation is attributed to declines in China, India, and Thailand, gaps in large producers' offer, and environmental requirements in the European Union, which have reduced beet production areas. The war in Ukraine has further increased energy costs and other inputs, affecting the candy industry and the entire agri-food chain.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Prices continue to break records in the markets and in the shopping cart. A trend that will continue due to the lack of supply and that agricultural analysts see as a harbinger of what can happen with the cost and supply of other foods, such as meat or vegetables. Sugar prices have reflected new international highs this week -gathered by the International Sugar Organization (ISO)- and in the Consumer Price Index (CPI), which places this product in Spain as the most inflationary -food and non-food-. In Spain, the price of sugar for consumers rose 50.4% year-on-year in March, while those of jams, marmalades, ice cream and honey have become more expensive by 19% in one year. In the futures markets, according to the latest ISO monthly report, sugar registered the highest prices in the last five years in March -which it had already reached in February- and at the end of this week in the New York market it exceeded the indices highest in the last ten years; has been around 700 ...

Source: PEefeagro