Sugar prices in South Korea are nearing its peak, up 11% in 10 days, and the prices of processed foods are shaking

Sugar is on display at a large supermarket in downtown Seoul. 2023.6.4 News 1 International sugar prices have soared to the point where they are close to their peak, raising the possibility that prices of processed foods will rise. For the government, which is making all-out efforts to control prices, the volatility of processed food prices due to the rise in international sugar prices appears to be unwelcome news. As of the 7th (local time), sugar was trading at 26.68 cents per pound on the U.S. ICE Futures Exchange, compared to the same period last year. It rose 47.8% from (18.05 cents). Sugar prices fell after hitting a peak in April, when production in India and China, as well as production in Thailand and the EU, were expected to decline, but recently turned upward again. Last 4 The international sugar price, which was 26.99 cents per pound on the 27th of the month, fell from 25.75 cents in May, 24.68 cents in June, and 23.99 cents in July to 23.98 cents on the 23rd of last ...