Brazil: The price of sugar, which is used in almost everything in the industry, is skyrocketing, raising concerns about food inflation

The prices of sugar, a product used in almost everything by the food industry – from soft drinks, chocolates and sweets to baking – last week reached the highest level in six years in the raw type on the New York Stock Exchange and for more than 10 years in London. This Monday (03), the raw sweetener in the North American terminal still rises and works above 22 cents/lb. Oil has also been a point of influence for prices on the day due to production cuts by the Organization of Petroleum Exporting Countries and allies (OPEC+). Read more: + Oil prices rise as surprise cut in OPEC+ production shakes markets + Saudi Arabia and other OPEC+ producers announce voluntary cuts in oil production The support for sweetener quotations on external exchanges in recent days comes from concerns about supply, mainly from India, the second largest global exporter of the sweetener, which was impacted by the climate and which should divert part of its sugarcane to the ethanol in the 2022/23 harvest. ...