World sugar prices fell in January

World sugar prices fell by 1.1% in January compared to the previous month, which is the first decline after the sharp rises of the previous two months, according to the food price index prepared by the United Nations Organization. for Food and Agriculture (FAO). The drop in international sugar prices in January "was mainly due to the good progress of the harvest in Thailand and the favorable weather conditions for the development of cane crops in the main sugar-producing regions of Brazil," according to the organization. Concern over lower crop yields in India, which could affect export availabilities, contained more substantial declines in sugar prices. Likewise, the FAO also indicates that the rise in gasoline prices in Brazil, which supported the demand for ethanol, and the strengthening of the Brazilian real against the dollar helped limit the downward pressure on world sugar prices. The Food Price Index compiled by the FAO ...