Spain: High sugar prices herald more risks in the food supply
Sugar
Spain
Published Apr 16, 2023
Tridge summary
Prices continue to break records in the markets and in the shopping cart. A trend that will continue due to the lack of supply and that agricultural analysts see as a harbinger of what can happen with the cost and supply of other foods, such as meat or vegetables.
Original content
Sugar prices have reflected new international highs this week -gathered by the International Sugar Organization (ISO)- and in the Consumer Price Index (CPI), which places this product in Spain as the most inflationary -food and non-food-. In Spain, the price of sugar for consumers rose 50.4% year-on-year in March, while those of jams, marmalades, ice cream and honey have become more expensive by 19% in one year. In the futures markets, according to the latest ISO monthly report, sugar registered the highest prices in the last five years in March -which it had already reached in February- and at the end of this week in the New York market it exceeded the indices highest in the last ten years; has been around 700 euros/ton. According to the Food and Agriculture Organization of the UN (FAO), in March sugar registered the second consecutive monthly increase (1.5%) and the highest level since 2016, due to concerns about the global decline in stocks. by declines in China, India and ...
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