Global raw sugarcane prices soar by 27%

Published 2023년 6월 14일

Tridge summary

Global sugar cane sugar prices have surged by 27% year-on-year in May, marking the largest increase among major raw materials and reaching a 11-year high at around 25 cents per pound. This rise, attributed to supply-demand pressure and decreased cultivation areas in Thailand and the EU, makes sugar a key factor in the price of processed foods. The U.S. Department of Agriculture anticipates a decrease in global raw sugar production, exacerbating the shortage. Fears of further price hikes are heightened by the possibility of El Niño, which could lead to poor sugarcane crops in key countries.

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

Original content

sugar cane. Getty Images Global sugar cane sugar prices rose 27% year-on-year in May, showing the largest increase among major raw material items. International raw sugar prices fluctuate around 25 cents per pound and remain at their highest level in 11 years, raising concerns about “global sugarflation” due to soaring raw sugar prices. According to the 'International Raw Sugar Price Diagnosis' report published by the International Finance Center on the 14th, international raw sugar prices on the International Futures Exchange (ICE) in London accelerated their upward trend in April due to supply disruptions in major producing countries (+21.3 month-on-month as of the end of April). %), but since May, it has been adjusted (-7.2% compared to the previous month as of the end of May) due to profit-taking sales following a short-term surge, and the upward trend has slowed somewhat. However, it is still at a high level of around 25 cents per pound. The closing price of trading on ...

Source: Hani