World: Sugar prices, at the top in Spain and in international markets

Published 2023년 3월 20일

Tridge summary

Spain is experiencing a sharp increase in sugar prices, with a 52.6% rise in the past year, making it the country's most inflated good. This trend is seen in international markets, including the Food and Agriculture Organization of the UN (FAO) and London, where sugar prices have risen by 6.9% in February, marking a six-year high. Factors contributing to this surge include the war in Ukraine, reduced supply due to a downgraded crop forecast in India, and higher energy and oil costs. Spain, with a sugar production deficit, is among the EU countries undergoing reforms to shift from beet to other crops, further impacting supply. Climate change also poses a threat to sugar production, especially in major producing countries like Brazil and Russia.

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

Original content

They are reaching their highest levels in international markets. In Spain it is the product with the highest inflation. Among the causes are the costs of the war in Ukraine and a reduction in supply that comes from behind. The Spanish Consumer Price Index (CPI), the indicators of the Food and Agriculture Organization of the UN (FAO) and the prices of reference markets such as London reflect an upward trend in sugar prices that contrasts with a certain moderation in other raw materials. Spain is a country with a deficit in sugar production and in the last 12 months its price has increased by 52.6% for its citizens, which represents the highest price increase of all goods (agri-food and others) of the latest data from the Consumer Price Index (CPI) for February. Compared to January, it has rebounded by 1.1% and so far this year by 2.2%, according to the CPI. In the latest FAO Food Price Index for February, sugar rose 6.9 percent from January to reach its highest level in six years, ...

Source: PEefeagro