US: On the ICE exchange, sugar rises in price and coffee becomes cheaper

From November 25 to December 2, on the ICE exchange, the situation with quotes for coffee, sugar and cocoa developed according to different scenarios. During the week, coffee fell in price, while sugar and cocoa, on the contrary, rose in price by 0.78% to 2.13%, KazakhZerno.kz writes. Coffee was getting cheaper, even though there was some disturbing news in Colombia. The country was hit by nasty rains associated with the weather phenomenon La Niña. The government has declared a natural disaster and also published a forecast for how long they will last. The rains may drag on until mid-2023. Because of the showers, not only crops on coffee plantations are affected, but also people. The Food and Agriculture Organization of the United Nations (FAO) has published a new report on the world food price index for November. For the eighth month in a row, the world has seen a decline in prices for them: in March, after the Russian attack on Ukraine, they rose to a record high level. The ...