Sugar prices have experienced the largest annual decline in the last eight years - Bloomberg

This year, prices for raw sugar have experienced the largest annual decline in eight years, amid the prospect of surplus supplies of the product. As reported by Ukrinform, this is according to Bloomberg. Although the most active contract for raw sugar in New York increased by 1.6% on Wednesday, prices for this product have fallen by approximately 22% this year, which is the largest decline since 2017. In addition, white sugar futures in London have fallen by 15%, which is the largest annual decline for the product since 2018. Large volumes of sugar production in the leading exporter Brazil and the resumption of production in the key sugar producer India are expected to result in supply significantly exceeding subdued demand. Meanwhile, growing uncertainty about production volumes in Thailand threatens to destroy part of the sugar surplus. Production in this Asian country has lagged behind last year's level due to delays in processing sugar ...