After crude oil and gas, an agricultural product price storm caused Europe to headache: As a Vietnamese product with an output of more than 800,000 tons in 2022, the price peaked within 10 years

Source: markettimes.vn Artwork According to data from Bloomberg, European sugar importers and producers are negotiating contracts for the 2023-2024 harvest season, the quoted price is more than 1,000 euros/ton, more than double the price in the middle of last year. As a result, consumers in Europe may soon have to pay more for sweets that are so popular in the West. Sugar prices on the spot market have increased by 58% since October last year. The weather situation is also warning of higher prices due to the slow planting process and rising temperatures, thereby increasing the risk of drought and pests. "What's important is what happens in the next two or three months: will it rain or will the drought persist?" said John Stansfield, senior sugar analyst at DNEXT Intelligence. New sales contracts are signed at record prices, the costs incurred will be unavoidable due to supply factors. Kona Haque, head of commodity research at ED&F Man, said some companies will have to pass that ...